Guardian Partners Inc. Acquires 79,328 Shares of TransAlta Co. (NYSE:TAC)

During the fourth quarter, Guardian Partners Inc. made a notable acquisition in the utilities sector by acquiring a new stake in TransAlta Co. (NYSE:TAC, TSE:TA), as documented in its latest 13F filing with the Securities and Exchange Commission. Specifically, Guardian Partners purchased 79,328 shares, with an estimated value of around $1,052,000.

In addition to Guardian Partners, several other institutional investors have recently adjusted their holdings in TransAlta. Tobam established a new position in TransAlta valued at roughly $46,000 during the fourth quarter. Meanwhile, Quantbot Technologies LP also initiated a new stake valued at about $61,000 during the third quarter. Furthermore, Ballentine Partners LLC invested roughly $145,000 during the fourth quarter, Private Advisor Group LLC acquired $150,000 worth of shares, and Sage Investment Counsel LLC obtained a new position worth approximately $156,000 during the same period. Currently, institutional investors possess about 59.00% of TransAlta's stock.

Analyst Ratings and Forecasts

TransAlta has recently been featured in various research reports by analysts. On February 21, StockNews.com downgraded TransAlta from a 'buy' rating to a 'hold' rating. Following that, CIBC upgraded TransAlta from a 'neutral' rating to 'outperformer', but lowered their target price for the stock from $23.00 to $19.50 on February 18. Scotiabank also revised its outlook, moving TransAlta from 'sector outperform' to 'sector perform' as of January 23. Conversely, Cibc World Markets elevated their recommendation from 'hold' to 'strong-buy' on the same day as CIBC's analysis. Currently, three equity research analysts issued a hold rating, while one analyst provided a strong buy rating, resulting in an average rating of 'Moderate Buy' and a target price of $19.50, according to MarketBeat data.

Performance of TransAlta Stock

On a recent trading day, TransAlta's shares opened at $9.76. The stock possesses a fifty-day moving average of $10.99 and a two-hundred day moving average of $11.16. Financially, the company indicates a debt-to-equity ratio of 2.94, a quick ratio of 0.67, and a current ratio of 0.74. Additionally, TransAlta has a market capitalization of $2.90 billion, a price-to-earnings ratio of 23.80, and a beta of 0.89. Over the past year, the stock has seen a low of $5.94 and a high of $14.64.

On February 20, TransAlta reported its quarterly earnings, revealing an earnings per share (EPS) of ($0.16), which fell short of analysts' expectations of $0.12 by ($0.28). The company generated revenue of $484.60 million during the quarter, showcasing a net profit margin of 6.38% and a return on equity of 18.47%. Analysts predict that TransAlta will report an EPS of 0.41 for the current fiscal year.

Dividend Announcement

Recently, TransAlta declared its quarterly dividend, scheduled for payment on July 1st. Shareholders recorded as of June 1st will receive a dividend of $0.0458 per share, equating to an annualized dividend of $0.18, which results in a dividend yield of 1.88%. The ex-dividend date is set for May 30th, representing an increase from the previous quarterly dividend amount of $0.04. The company's dividend payout ratio stands at 43.90%.

About TransAlta Corporation

TransAlta Corporation is involved in the development, production, and marketing of electric energy. The company operates across several segments including Hydro, Wind and Solar, Gas, Energy Transition, and Energy Marketing. Notably, TransAlta's Hydro segment holds an interest in around 922 megawatts (MW) of hydroelectric generating capacity in regions such as Alberta, British Columbia, and Ontario.

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