TransAlta Corporation (TAC) To Go Ex-Dividend on February 27th

TransAlta Corporation (NYSE:TAC) (TSE:TA) announced a quarterly dividend on Friday, December 12th. Shareholders of record on Sunday, March 1st will be given a dividend of 0.065 per share by the utilities provider on Wednesday, April 1st. This represents a c) dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Friday, February 27th.

TransAlta has decreased its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 2 years. TransAlta has a payout ratio of 105.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect TransAlta to earn $0.44 per share next year, which means the company should continue to be able to cover its $0.18 annual dividend with an expected future payout ratio of 40.9%.

TransAlta Trading Down 0.5%

Shares of NYSE:TAC traded down $0.07 during mid-day trading on Wednesday, reaching $12.98. 249,255 shares of the company’s stock were exchanged, compared to its average volume of 1,477,604. The company has a debt-to-equity ratio of 5.22, a quick ratio of 0.71 and a current ratio of 0.79. TransAlta has a twelve month low of $7.82 and a twelve month high of $17.88. The firm has a market capitalization of $3.85 billion, a price-to-earnings ratio of -27.03 and a beta of 0.78. The business’s fifty day moving average price is $12.87 and its 200-day moving average price is $13.77.

Hedge Funds Weigh In On TransAlta

A number of institutional investors and hedge funds have recently made changes to their positions in TAC. Caitong International Asset Management Co. Ltd bought a new stake in TransAlta during the fourth quarter worth $37,000. EverSource Wealth Advisors LLC lifted its stake in TransAlta by 37.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,000 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 812 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in TransAlta during the 4th quarter worth $50,000. Savant Capital LLC bought a new stake in shares of TransAlta in the 2nd quarter worth $127,000. Finally, Warren Street Wealth Advisors LLC bought a new stake in shares of TransAlta in the 4th quarter worth $129,000. Institutional investors own 59.00% of the company’s stock.

About TransAlta

TransAlta Corporation, originally founded in 1909 as Calgary Power Company Ltd., is a publicly traded energy company specializing in the development, ownership and operation of power generation and transmission assets. Headquartered in Calgary, Alberta, TransAlta has grown from its early hydroelectric roots into a diversified energy provider with a multi-fuel generating fleet.

The company’s core business activities encompass power generation, asset management and energy trading services.