Swiss National Bank Continues to Hold Stake in TransAlta Corporation (TAC)
Swiss National Bank held its position in TransAlta Corporation (NYSE:TAC) (TSE:TA) during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 476,700 shares of the utilities provider’s stock at the end of the first quarter. Swiss National Bank owned approximately 0.17% of TransAlta Corporation worth $2,803,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. ING Groep NV bought a new position in TransAlta Corporation during the first quarter valued at $133,000. Shell Asset Management Co. increased its position in shares of TransAlta Corporation by 13.0% in the first quarter. Shell Asset Management Co. now owns 27,800 shares of the utilities provider’s stock valued at $217,000 after buying an additional 3,200 shares during the period. Quadrature Capital Ltd acquired a new position in shares of TransAlta Corporation during the fourth quarter valued at approximately $256,000. Two Sigma Investments LP increased its position in shares of TransAlta Corporation by 159.4% in the fourth quarter. Two Sigma Investments LP now owns 169,695 shares of the utilities provider’s stock valued at $938,000 after buying an additional 104,283 shares during the period. Finally, James Investment Research Inc. acquired a new position in shares of TransAlta Corporation during the first quarter valued at approximately $1,637,000. 49.51% of the stock is currently owned by hedge funds and other institutional investors.
TransAlta Corporation (NYSE TAC) opened at 5.875 on Friday. The firm has a 50-day moving average price of $5.45 and a 200 day moving average price of $5.57. TransAlta Corporation has a 12 month low of $3.75 and a 12 month high of $6.25. The company has a market cap of $1.69 billion, a P/E ratio of 41.373 and a beta of 0.74.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, July 1st. Shareholders of record on Thursday, June 1st will be given a $0.03 dividend. The ex-dividend date is Tuesday, May 30th. This represents a $0.12 dividend on an annualized basis and a yield of 2.04%. TransAlta Corporation’s dividend payout ratio is currently 80.01%.
Several equities analysts have commented on TAC shares. TheStreet downgraded TransAlta Corporation from a “c” rating to a “d+” rating in a research report on Friday, May 5th. Zacks Investment Research raised TransAlta Corporation from a “hold” rating to a “strong-buy” rating and set a $6.50 price objective on the stock in a research report on Saturday, April 15th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. TransAlta Corporation presently has a consensus rating of “Hold” and an average price target 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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