Brookfield Asset Management Inc. continued to hold its position in shares of TransAlta Corporation (NYSE:TAC) (TSE:TA) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,007,164 shares of the utilities provider’s stock at the end of the first quarter. Brookfield Asset Management Inc. owned about 4.87% of TransAlta Corporation worth $82,222,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently made changes to their positions in TAC. Vanguard Group Inc. increased its position in shares of TransAlta Corporation by 4.1% in the first quarter. Vanguard Group Inc. now owns 5,557,096 shares of the utilities provider’s stock valued at $32,509,000 after buying an additional 220,705 shares during the last quarter. Wellington Management Group LLP bought a new position in TransAlta Corporation during the first quarter worth $110,000. Parametric Portfolio Associates LLC increased its position in TransAlta Corporation by 9.9% in the first quarter. Parametric Portfolio Associates LLC now owns 30,854 shares of the utilities provider’s stock worth $180,000 after buying an additional 2,787 shares in the last quarter. TD Asset Management Inc. increased its position in TransAlta Corporation by 8.4% in the first quarter. TD Asset Management Inc. now owns 8,978,952 shares of the utilities provider’s stock worth $52,649,000 after buying an additional 694,653 shares in the last quarter. Finally, Karp Capital Management Corp bought a new position in TransAlta Corporation during the first quarter worth $553,000. 49.51% of the stock is currently owned by institutional investors and hedge funds.
Shares of TransAlta Corporation (TAC) traded down 0.85% during trading on Tuesday, hitting $5.85. 14,895 shares of the stock were exchanged. The stock’s 50 day moving average is $5.47 and its 200-day moving average is $5.57. TransAlta Corporation has a 12-month low of $3.75 and a 12-month high of $6.24. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of 40.91 and a beta of 0.74.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, July 1st. Stockholders of record on Thursday, June 1st will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date is Tuesday, May 30th. TransAlta Corporation’s payout ratio is 80.01%.
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A number of equities analysts have weighed in on TAC shares. TheStreet raised shares of TransAlta Corporation from a “d” rating to a “c” rating in a research note on Friday, March 3rd. Zacks Investment Research raised shares of TransAlta Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, March 7th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $6.83.
About TransAlta Corporation
TransAlta Corporation (TransAlta) is a non-regulated electricity generation and energy marketing company with an aggregate net ownership interest of approximately 8,720 megawatts of generating capacity. The Company is engaged in the production and sale of electric energy. It focuses on generating and marketing electricity in Canada, the United States and Western Australia through its diversified portfolio of facilities fuelled by coal, natural gas, diesel, hydro, wind and solar.
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