Mirabella Financial Services LLP Makes New Investment in TransAlta Co. (NYSE:TAC)

Mirabella Financial Services LLP bought a new stake in TransAlta Co. (NYSE:TAC) (TSE:TA) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 19,292 shares of the utilities provider’s stock, valued at approximately $200,000.

A number of other hedge funds have also modified their holdings of TAC. PCJ Investment Counsel Ltd. purchased a new stake in TransAlta during the 3rd quarter valued at about $2,573,000. Metis Global Partners LLC acquired a new position in shares of TransAlta during the 3rd quarter worth approximately $360,000. Oppenheimer & Co. Inc. purchased a new stake in shares of TransAlta in the third quarter valued at approximately $194,000. Entropy Technologies LP purchased a new stake in shares of TransAlta in the third quarter valued at approximately $130,000. Finally, Tacita Capital Inc increased its holdings in shares of TransAlta by 11.7% in the third quarter. Tacita Capital Inc now owns 245,081 shares of the utilities provider’s stock valued at $2,544,000 after purchasing an additional 25,626 shares during the last quarter. 59.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on TAC shares. Desjardins reissued a “hold” rating on shares of TransAlta in a research note on Wednesday, November 6th. StockNews.com lowered shares of TransAlta from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 6th.

TransAlta Stock Up 0.4 %

Shares of NYSE TAC opened at $10.80 on Tuesday. The company has a market capitalization of $3.22 billion, a P/E ratio of 28.92 and a beta of 0.92. The company has a debt-to-equity ratio of 2.94, a current ratio of 0.74 and a quick ratio of 0.67. The company has a 50 day simple moving average of $10.27 and a 200-day simple moving average of $8.56. TransAlta Co. has a 1 year low of $5.94 and a 1 year high of $11.10.

TransAlta Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Sunday, December 1st will be given a $0.044 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.18 dividend on an annualized basis and a yield of 1.63%. TransAlta’s dividend payout ratio is currently 45.95%.

TransAlta Profile

TransAlta Corporation engages in the development, production, and sale of electric energy. It operates through Hydro, Wind and Solar, Gas, Energy Transition, and Energy Marketing segments. The Hydro segment holds interest of approximately 922 megawatts (MW) of owned hydroelectric generating capacity located in Alberta, British Columbia, and Ontario.