Wellington Management Group LLP Invests $998,000 in TransAlta Co. (NYSE:TAC)

Wellington Management Group LLP acquired a new stake in TransAlta Co. (NYSE:TAC) (TSE:TA) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 96,206 shares of the utilities provider’s stock, valued at approximately $998,000.

Several other large investors have also bought and sold shares of the stock. Blue Trust Inc. grew its position in shares of TransAlta by 1,381.5% in the 2nd quarter. Blue Trust Inc. now owns 4,237 shares of the utilities provider’s stock valued at $30,000 after buying an additional 3,951 shares during the last quarter. Financial Management Professionals Inc. acquired a new position in shares of TransAlta in the third quarter worth approximately $42,000. Quantbot Technologies LP bought a new stake in TransAlta in the third quarter valued at approximately $61,000. Evergreen Capital Management LLC acquired a new stake in TransAlta during the 2nd quarter valued at approximately $72,000. Finally, Sage Rhino Capital LLC bought a new position in TransAlta during the 2nd quarter worth approximately $79,000. 59.00% of the stock is owned by institutional investors.

TransAlta Price Performance

Shares of TAC opened at $13.91 on Friday. The firm has a market cap of $4.15 billion, a PE ratio of 37.60 and a beta of 0.91. TransAlta Co. has a 52-week low of $5.94 and a 52-week high of $14.64. The business’s 50 day moving average price is $11.18 and its two-hundred day moving average price is $9.25. The company has a debt-to-equity ratio of 2.94, a quick ratio of 0.67 and a current ratio of 0.74.

TransAlta Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Saturday, March 1st will be paid a dividend of $0.0423 per share. This represents a $0.17 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Friday, February 28th. TransAlta’s dividend payout ratio is presently 45.95%.

Analyst Upgrades and Downgrades

TAC has been the topic of a number of analyst reports. Desjardins reaffirmed a “hold” rating on shares of TransAlta in a research note on Wednesday, November 6th. StockNews.com cut shares of TransAlta from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Scotiabank upgraded TransAlta to a “strong-buy” rating in a report on Thursday, December 5th.

About TransAlta

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.