Mackenzie Financial Corp Raises Stake in TransAlta Co. (NYSE:TAC)

Mackenzie Financial Corp lifted its position in shares of TransAlta Co. (NYSE:TAC) (TSE:TA) by 2.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 6,370,416 shares of the utilities provider’s stock after acquiring an additional 149,378 shares during the quarter. Mackenzie Financial Corp’s holdings in TransAlta were worth $53,007,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Lazard Asset Management LLC acquired a new stake in shares of TransAlta during the 3rd quarter valued at approximately $33,000. Tower Research Capital LLC TRC raised its position in shares of TransAlta by 234.6% during the 3rd quarter. Tower Research Capital LLC TRC now owns 4,367 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 3,062 shares in the last quarter. 1832 Asset Management L.P. increased its position in TransAlta by 153.2% in the first quarter. 1832 Asset Management L.P. now owns 5,497 shares of the utilities provider’s stock worth $56,000 after buying an additional 3,326 shares during the period. Bank of New York Mellon Corp acquired a new stake in TransAlta in the third quarter worth $88,000. Finally, Deutsche Bank AG acquired a new stake in TransAlta in the fourth quarter worth $90,000. 59.00% of the stock is owned by institutional investors and hedge funds.

TransAlta Trading Up 0.3 %

Shares of TAC stock opened at $6.12 on Wednesday. The stock has a 50-day simple moving average of $6.64 and a 200 day simple moving average of $7.50. TransAlta Co. has a fifty-two week low of $5.94 and a fifty-two week high of $10.40. The stock has a market capitalization of $1.88 billion, a P/E ratio of 3.34 and a beta of 0.83. The company has a quick ratio of 0.82, a current ratio of 0.91 and a debt-to-equity ratio of 4.06.

TransAlta (NYSE:TAC) (TSE:TA) last announced its earnings results on Friday, February 23rd. The utilities provider reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.30). TransAlta had a net margin of 20.05% and a return on equity of 48.42%. The firm had revenue of $624.00 million for the quarter, compared to the consensus estimate of $305.79 million. During the same period in the prior year, the business earned ($0.45) EPS. The company’s quarterly revenue was down 26.9% compared to the same quarter last year. On average, sell-side analysts expect that TransAlta Co. will post 0.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com lowered TransAlta from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 12th.

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.