Clayton Partners LLC Has $7.96 Million Holdings in TransAlta Corporation $TAC

Clayton Partners LLC decreased its position in TransAlta Corporation (NYSE:TAC) (TSE:TA) by 9.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 629,572 shares of the utilities provider’s stock after selling 64,013 shares during the quarter. TransAlta accounts for about 5.6% of Clayton Partners LLC’s investment portfolio, making the stock its 4th biggest holding. Clayton Partners LLC’s holdings in TransAlta were worth $7,958,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Rubric Capital Management LP grew its stake in shares of TransAlta by 11.5% in the 4th quarter. Rubric Capital Management LP now owns 17,781,325 shares of the utilities provider’s stock valued at $224,756,000 after buying an additional 1,832,874 shares in the last quarter. Bank of Montreal Can grew its stake in shares of TransAlta by 27.5% in the 4th quarter. Bank of Montreal Can now owns 13,295,335 shares of the utilities provider’s stock valued at $168,163,000 after buying an additional 2,870,026 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of TransAlta by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 11,123,833 shares of the utilities provider’s stock valued at $140,694,000 after buying an additional 174,449 shares in the last quarter. Oaktree Capital Management LP grew its stake in shares of TransAlta by 5.4% in the 3rd quarter. Oaktree Capital Management LP now owns 6,415,253 shares of the utilities provider’s stock valued at $87,648,000 after buying an additional 330,000 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of TransAlta in the 4th quarter valued at approximately $45,298,000. Institutional investors own 59.00% of the company’s stock.

TransAlta Stock Up 0.5%

Shares of TransAlta stock opened at $13.58 on Thursday. The stock has a market capitalization of $4.29 billion, a P/E ratio of -25.14 and a beta of 0.69. The company has a quick ratio of 0.70, a current ratio of 0.76 and a debt-to-equity ratio of 6.61. The stock has a 50 day moving average price of $13.14 and a two-hundred day moving average price of $13.09. TransAlta Corporation has a 12-month low of $10.28 and a 12-month high of $17.88.

TransAlta (NYSE:TAC) (TSE:TA) last announced its earnings results on Wednesday, May 6th. The utilities provider reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.03. The firm had revenue of $406.19 million during the quarter, compared to analysts’ expectations of $436.36 million. TransAlta had a positive return on equity of 9.52% and a negative net margin of 9.46%. Equities analysts expect that TransAlta Corporation will post 0.22 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on TAC. Scotiabank raised TransAlta to a “strong-buy” rating in a research note on Wednesday, June 10th. Weiss Ratings raised TransAlta from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday. TD Securities reaffirmed a “buy” rating on shares of TransAlta in a research report on Thursday, May 7th. BMO Capital Markets started coverage on TransAlta in a research report on Wednesday, June 10th. They set an “outperform” rating for the company. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $24.00 target price on shares of TransAlta in a research report on Tuesday, March 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.25.

TransAlta Company Profile

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.