Citigroup Inc. Has $1.08 Million Stake in TransAlta Corporation (TAC)
Citigroup Inc. cut its stake in TransAlta Corporation (NYSE:TAC) (TSE:TA) by 14.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 168,963 shares of the utilities provider’s stock after selling 27,586 shares during the quarter. Citigroup Inc. owned 0.06% of TransAlta Corporation worth $1,079,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently modified their holdings of the company. CIBC Asset Management Inc raised its stake in shares of TransAlta Corporation by 37.5% in the second quarter. CIBC Asset Management Inc now owns 17,645,218 shares of the utilities provider’s stock worth $112,669,000 after purchasing an additional 4,809,107 shares during the last quarter. Vanguard Group Inc. raised its stake 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 worth $32,509,000 after purchasing an additional 220,705 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of TransAlta Corporation by 12.1% in the second quarter. Canada Pension Plan Investment Board now owns 2,831,139 shares of the utilities provider’s stock worth $18,072,000 after purchasing an additional 305,939 shares during the last quarter. Sentry Investments Corp. purchased a new stake in shares of TransAlta Corporation in the second quarter worth approximately $8,986,000. Finally, Advisors Asset Management Inc. raised its stake in shares of TransAlta Corporation by 25.3% in the second quarter. Advisors Asset Management Inc. now owns 110,563 shares of the utilities provider’s stock worth $708,000 after purchasing an additional 22,353 shares during the last quarter. 50.62% of the stock is owned by hedge funds and other institutional investors.
Several analysts have recently commented on TAC shares. Zacks Investment Research downgraded TransAlta Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. BidaskClub raised TransAlta Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, July 1st. Six equities research analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and an average target price of $7.00.
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Shares of TransAlta Corporation (NYSE TAC) opened at 5.90 on Friday. The company’s 50 day moving average price is $6.10 and its 200-day moving average price is $5.89. TransAlta Corporation has a 12 month low of $3.75 and a 12 month high of $6.60. The stock has a market capitalization of $1.70 billion, a P/E ratio of 66.29 and a beta of 0.71.
The company also recently disclosed a quarterly dividend, which was paid on Sunday, October 1st. Investors of record on Friday, September 1st were issued a $0.0314 dividend. This is a positive change from TransAlta Corporation’s previous quarterly dividend of $0.03. This represents a $0.13 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date was Wednesday, August 30th. TransAlta Corporation’s payout ratio is presently 144.46%.
TransAlta Corporation Company Profile
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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