Mackenzie Financial Corp Acquires 149,378 Shares of TransAlta Co. (NYSE:TAC)

Mackenzie Financial Corp lifted its position in TransAlta Co. (NYSE:TAC) (TSE:TA) by 2.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,370,416 shares of the utilities provider’s stock after buying an additional 149,378 shares during the period. Mackenzie Financial Corp owned about 2.06% of TransAlta worth $53,007,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mirabella Financial Services LLP purchased a new stake in TransAlta during the third quarter valued at approximately $773,000. Royal Bank of Canada increased its stake in shares of TransAlta by 1.5% in the third quarter. Royal Bank of Canada now owns 39,322,839 shares of the utilities provider’s stock worth $342,110,000 after purchasing an additional 581,454 shares in the last quarter. Rubric Capital Management LP increased its stake in shares of TransAlta by 28.6% in the third quarter. Rubric Capital Management LP now owns 4,404,844 shares of the utilities provider’s stock worth $38,322,000 after purchasing an additional 978,354 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of TransAlta by 1.0% in the third quarter. Vanguard Group Inc. now owns 8,381,544 shares of the utilities provider’s stock worth $72,919,000 after purchasing an additional 82,419 shares in the last quarter. Finally, AMH Equity Ltd purchased a new stake in shares of TransAlta in the third quarter worth $2,913,000. Institutional investors own 59.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of TransAlta from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 12th.

TransAlta Price Performance

Shares of NYSE:TAC opened at $6.12 on Wednesday. The company has a debt-to-equity ratio of 4.06, a quick ratio of 0.82 and a current ratio of 0.91. The firm has a fifty day moving average price of $6.64 and a 200 day moving average price of $7.50. TransAlta Co. has a fifty-two week low of $5.94 and a fifty-two week high of $10.40. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of 3.34 and a beta of 0.83.

TransAlta (NYSE:TAC) (TSE:TA) last released its quarterly earnings data on Friday, February 23rd. The utilities provider reported ($0.20) EPS 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 business had revenue of $624.00 million for the quarter, compared to the consensus estimate of $305.79 million. During the same quarter last year, the business earned ($0.45) EPS. TransAlta’s revenue for the quarter was down 26.9% compared to the same quarter last year. As a group, sell-side analysts expect that TransAlta Co. will post 0.5 earnings per share for the current fiscal year.

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.