TAC - TransAlta Corporation

NYSE - NYSE Delayed Price. Currency in USD
6.88
-0.18 (-2.55%)
At close: 4:02PM EDT
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Previous Close7.06
Open7.01
Bid0.00 x 3200
Ask6.88 x 800
Day's Range6.85 - 7.03
52 Week Range3.99 - 7.61
Volume181,236
Avg. Volume159,669
Market Cap1.961B
Beta (3Y Monthly)1.66
PE Ratio (TTM)N/A
EPS (TTM)-0.71
Earnings DateN/A
Forward Dividend & Yield0.12 (1.64%)
Ex-Dividend Date2019-05-31
1y Target Est6.80
Trade prices are not sourced from all markets
  • PR Newswire8 hours ago

    TransAlta Comments on Mangroves' Latest News Release

    CALGARY, April 23, 2019 /PRNewswire/ - TransAlta Corporation ("TransAlta" or the "Company") (TA.TO) (TAC) today commented on the latest news release from Mangrove Partners. "Mangrove's latest claim is without merit and is simply the latest complaint in a string of frivolous tactics. "A majority of our shareholders have already voted overwhelmingly in support of the Board at our upcoming Meeting.

  • PR Newswire14 hours ago

    Mangrove Partners Commences Action Against TransAlta Seeking Relief from Oppression

    NEW YORK, April 23, 2019 /PRNewswire/ - Mangrove Partners ("Mangrove"), one of the largest shareholders of TransAlta Corporation ("TransAlta" or the "Company") (TSX:TA) (NYSE:TAC) with aggregate ownership of 7.1% of the Company's outstanding shares, today announced that it has commenced an action in the Ontario Superior Court of Justice against TransAlta, its Directors and Brookfield BRP Holdings (Canada) ("Brookfield" and together, the "Named Parties"). The action arises out of TransAlta's continued misrepresentation and obfuscation of critical details relating to the upcoming 2019 annual and special meeting of shareholders, and the proposed $750 million transaction (the "Brookfield Transaction" or the "Transaction") between the Company and Brookfield BRP Holdings (Canada) Inc.

  • 7 Renewable Energy Stocks to Buy for Sunny Long-Term Returns
    InvestorPlace16 hours ago

    7 Renewable Energy Stocks to Buy for Sunny Long-Term Returns

    [Editor's note: This story was previously published in March 2019. It has since been updated and republished.]The 2020 Olympic Summer Games are to be held in Tokyo, Japan. The organizers of the games are planning to power the events with 100% renewable energy, which is great news for renewable energy stocks.Not only will the facilities where the sporting events are to take place to be powered exclusively by solar and wind power, so, too,will the athletes' village, international broadcasting center and press facilities. InvestorPlace - Stock Market News, Stock Advice & Trading TipsIt's an unprecedented undertaking that will highlight the decarbonization of Japan, providing a view into a future fully powered without fossil fuels. The city of Tokyo plans to generate 30% of its annual power consumption needs through renewable energy sources that include solar roads -- already installed on highways in France -- across the city by 2030. The following seven renewable energy stocks to buy will benefit from the publicity generated at the 2020 Olympic Games. * 10 High-Yielding Dividend Stocks That Won't Wilt However, that's nearly two years from now. Here's why each of them makes very compelling investments today: NextEra Energy (NEE)Not only is NextEra Energy (NYSE:NEE) the world's largest utility, it's also the largest producer of wind and solar energy anywhere on the planet, making it one of the best renewable energy stocks to buy for the long haul. Many people probably know NextEra because of its Florida Power and Light subsidiary that serves more than 5 million Floridians and is one of the largest rate-regulated electric utilities in the U.S.However, it is the subsidiary NextEra Energy Resources that is paving the way for future shareholders gains. It owns 120 wind facilities in North America that generate 13,000 megawatts of energy annually. It also generates more than 2,000 megawatts of solar power from facilities in seven states and Canada, along with natural gas-fired and nuclear power plants that deliver additional power generation.However, it is the company's views on diversity that makes it an excellent long-term investment. I'm not much of a fan of investing in utilities, but NextEra Energy's definitely got me very intrigued. Brookfield Renewable Partners (BEP)Brookfield Renewable Partners (NYSE:BEP) announced that it had increased its ownership (with partners) of TerraForm Power (NASDAQ:TERP) from 51% to 65% by purchasing an additional 61 million shares in a private placement. The investment will add $80 million annually to Brookfield Renewable's funds from operations. TerraForm Power generates 3,634 megawatts of solar and wind power around the globe with 65% right here in the U.S., another 26% in Europe, and the remainder from facilities in Canada, Chile and Uruguay. Brookfield Renewable worldwide has 843 renewable power facilities in North America, Latin America and Europe capable of producing 16,300 megawatts of power annually.In North America alone, its renewable energy facilities generate enough electricity to power 2 million homes.If you want to own more than renewable energy assets, you might consider Brookfield Asset Management (NYSE:BAM) which owns 61% of BEP and is one of the world's largest alternative asset managers. * 10 High-Yielding Dividend Stocks That Won't Wilt If I could only own one company's stock, Brookfield Asset Management would be at the top of my list. TransAlta (TAC) Like Brookfield Renewable, it could be more attractive to U.S. investors to buy TransAlta Corporation (NYSE:TAC) rather than its 64%-owned renewable energy subsidiary TransAlta Renewables (TSE:RNW), which trades on the Toronto Stock Exchange. TransAlta Renewables pays approximately CAD 150 million in dividends annually to its parent from the free cash flow generated from wind-power facilities in the U.S. and Canada that have the capacity to produce 1,248 megawatts of power and 49% of its annual cash flow along with natural gas-fired power generation that delivers 47% of its annual cash flow with hydroelectric facilities providing the rest. TransAlta Renewables is in the process of strengthening its balance sheet. Over the past two years, it has cut CAD$900 million of its debt, which should result in the company's free cash flow doubling over the next three years. The company currently pays a 1.95% monthly dividend, so by buying the parent, you're giving yourself a little more safety but a much lower dividend yield. Although there are risks to owning Canada's largest generator of wind power, if you're an aggressive investor, I'd go with RNW. Enviva (EVA)This is probably the least sexy stock you could buy in the renewable energy sector, but Enviva Partners (NYSE:EVA) is a good one nonetheless.Eviva is the world's largest producer of wood pellets, producing over three million metric tons each year from seven plants in the Southeastern part of the U.S. The pellets themselves are sold to utilities in the U.K. and Europe that use them in place of coal to produce a cleaner electricity source. Thanks to wood pellet businesses in the south like Enviva, greenhouse gas emissions have been reduced (PDF), forests are growing and jobs have been created, providing a trio of benefits that are hard to beat. * 10 High-Yielding Dividend Stocks That Won't Wilt Enviva has long-term supply contracts that provide stable cash flows. If you're an income investor, Enviva is a very safe way to meet your annual income requirements. Renewable Energy Group (REGI)Renewable Energy Group (NASDAQ:REGI) is another simple yet attractive businesses turning vegetable oils and animal fats into diesel fuel. Whenever you see one of those trucks sucking out the grease traps at a restaurant, it's going to one of Renewable Energy's 13 biomass refineries to be turned into diesel fuel. The company has the capacity to produce 575 million gallons of diesel fuel annually, 70% of which is sold to major travel centers and fuel marketers.The demand for biodiesel is tremendous. California, Texas, New York and seven other states oiught 1.5 billion gallons of the stuff in 2018, up from 1.15 billion in 2016. In Q4 2018, Renewable Energy sold 163.2 million gallons of biodiesel generating $519.8 million in revenue and $44.5 million in adjusted EBITDA. The company's adjusted EBITDA in the quarter was the highest in the past five years. Although its stock had a strong 2018, up 124%, and has struggled so far this year, I believe it has got room to move into the $30s on rising demand. TPI Composites (TPIC)What is one of the main ingredients needed for wind power? Wind, of course, but you also need turbine blades to generate that power. TPI Composites (NASDAQ:TPIC) is the largest independent manufacturer of composite wind blades for turbine manufacturers. It has facilities in North America, Europe and Asia. Although its major business is providing wind blades for turbines, the company is working to diversify its revenue streams. Last year, it announced a joint development agreement with Navistar International (NYSE:NAV) to develop a composite tractor and frame rails for a Class 8 truck.The project brings the company's strategic development plans into a new area outside of its core market providing investors with promising future growth. * 10 High-Yielding Dividend Stocks That Won't Wilt For all of 2019, analysts on average expect TPI Composites' revenue to reach $1.5 billion for the first time in the company's history. With margins moving higher, the profits will follow. Siemens (SIEGY)This last one gives you exposure to a global industrial player in Siemens (OTCMKTS:SIEGY) which, amongst its many ventures, owns 59% of Siemens Gamesa Renewable Energy (OTCMKTS:GCTAF), the world's largest producer of wind turbines. Siemens Gamesa sells its turbines to both onshore and offshore wind farms around the world. In June, Siemens Gamesa announced that it would supply 70 units of its Onshore OptimaFlex wind turbines to three onshore wind farms in Norway. The turbines will provide approximately 294 megawatts of power and have a 25-year lifetime. In Norway alone, Siemens Gamesa's turbines provide more than 500 megawatts of power with another 390 megawatts under installation. It has a total installed base of 85 gigawatts of power generated from its wind turbines. For this year's first quarter, Siemens Gamesa reported wind turbine sales of $26 billion and $404 million in earnings before interest and taxes. As of this writing, Will Ashworth did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 High-Yielding Dividend Stocks That Won't Wilt * 4 Energy Stocks Soaring as Trump Tightens on Iran * 7 Tech Stocks With Too Much Risk, Not Enough Upside Compare Brokers The post 7 Renewable Energy Stocks to Buy for Sunny Long-Term Returns appeared first on InvestorPlace.

  • Bloomberg4 days ago

    TransAlta Activists End Partnership Ahead of Annual Meeting

    Mangrove Partners and an entity controlled by C. John Wilder’s Bluescape Energy Partners said in a regulatory filing late Friday that they would terminate their cooperation agreement. The pair, which collectively owned 10.1 percent of TransAlta, had said they were prepared to launch a proxy fight at the company to replace five directors on the board.

  • CNW Group6 days ago

    Mangrove Partners Abandons Complaints to Securities Regulator

    CALGARY , April 17, 2019 /CNW/ - TransAlta Corporation ("TransAlta" or the "Company") (TA.TO) (TAC) announced today that Mangrove Partners has withdrawn its application before the Alberta Securities Commission ("ASC") for a hearing related to TransAlta's recent transaction with Brookfield . As previously released, Mangrove originally filed applications on April 8, 2019 before both the ASC and the Ontario Securities Commission ("OSC") complaining about the Brookfield transaction.  On April 15, 2019 , the OSC issued a decision declining to assert jurisdiction, which left the matter solely within the jurisdiction of the ASC.

  • PR Newswire7 days ago

    Media Advisory: TransAlta First Quarter 2019 Results and Conference Call

    CALGARY , April 17, 2019 /PRNewswire/ - TransAlta Corporation ("TransAlta") (TSX: TA) (NYSE: TAC) will release its first quarter 2019 results before market open on Tuesday, May 14, 2019 . A conference ...

  • PR Newswire8 days ago

    TransAlta Updates Shareholders on Hearing Process

    CALGARY, April 15, 2019 /PRNewswire/ - TransAlta Corporation ("TransAlta" or the "Company") (TA.TO) (TAC) today updated shareholders regarding the private proceedings sought to be commenced by dissident shareholder Mangrove Partners before the Ontario Securities Commission ("OSC") and Alberta Securities Commission ("ASC").

  • PR Newswire9 days ago

    TransAlta Declares Dividends

    CALGARY , April 15, 2019 /PRNewswire/ - The Board of Directors of TransAlta Corporation (TSX: TA) (NYSE: TAC) today declared a quarterly dividend of $0.04 per common share payable on July 1, 2019 to shareholders ...

  • PR Newswire11 days ago

    TransAlta: ISS and Glass Lewis Recommend Shareholders Vote FOR All TransAlta Director Nominees and Management Proposals

    CALGARY, April 12, 2019 /PRNewswire/ - TransAlta Corporation ("TransAlta" or the "Company") (TA.TO) (TAC) today announced that leading independent proxy advisory firms, Institutional Shareholder Services Inc. ("ISS") and Glass, Lewis & Co ("Glass Lewis"), both issued final reports recommending that shareholders vote FOR all TransAlta management proposals, including director nominees, being presented at the Company's upcoming shareholders' meeting. Both ISS and Glass Lewis recommend shareholders vote FOR the election of all TransAlta director nominees, including new nominees Robert Flexon, Harry Goldgut and Richard Legault.

  • CNW Group13 days ago

    TransAlta Responds to Mangrove Partners' Press Release

    TransAlta stands by the Brookfield investment and strategic partnership and adhered to proper governance practices in negotiating and deciding to proceed with the transaction. The Board and its Special Committee firmly believe it is in the best interests of the Company and its shareholders and other stakeholders. Many of our largest shareholders agree.

  • PR Newswire13 days ago

    Mangrove Partners Announces Intention to Withhold Votes for TransAlta Special Committee Members at Upcoming Annual Meeting

    NEW YORK, April 11, 2019 /PRNewswire/ - Mangrove Partners ("Mangrove"), who together with Bluescape Energy Partners is one of the largest shareholders of TransAlta Corporation ("TransAlta" or the "Company") (TSX:TA) (NYSE:TAC) with aggregate ownership of 10.1% of the Company's outstanding shares, today announced that it intends to withhold its votes at the upcoming 2019 annual and special meeting of shareholders (the "2019 ASM") for Gordon Giffin, Alan Fohrer and Beverlee Park, the three members of TransAlta's Special Committee of the Board who reviewed, evaluated and unanimously recommended the proposed $750 million transaction (the "Brookfield Transaction") between the Company and Brookfield BRP Holdings (Canada) Inc. ("Brookfield"). Mangrove also indicated that it remains eligible to put forward its previously submitted nominees for election as directors at the 2019 ASM and may choose to do so prior to the meeting.

  • Bloomberg15 days ago

    TransAlta Wins Glass Lewis Support, Activist File Challenge

    Meanwhile, Mangrove Partners and an entity controlled by C. John Wilder’s Bluescape Energy Partners, the two activist investors, filed an application with regulators in Ontario and Alberta on Tuesday seeking to force a second shareholder vote on the company’s proposed C$750 million ($563 million )investment from Brookfield Asset Management Inc., separating that tally from the company’s ballot on its directors. "Like any TransAlta shareholder, we cannot yet know whether the Company’s proposed investment from Brookfield is in the best interest of all shareholders, given signs of a rushed negotiation and the company’s limited disclosures," said Nathaniel August, Mangrove’s president, in a statement. When it announced the deal, TransAlta said it didn’t require a shareholder vote.

  • CNW Group15 days ago

    TransAlta Responds to Mangrove Application for Joint Hearing

    CALGARY , April 9, 2019 /CNW/ - TransAlta Corporation ("TransAlta" or the "Company") (TA.TO) (TAC) today announced that Mangrove Partners ("Mangrove") has made application to the Alberta Securities Commission and Ontario Securities Commission (together, the "Commissions"). In the application, Mangrove is seeking a joint hearing of the Commissions in relation to TransAlta's 2019 annual and special meeting of shareholders to be held on April 26, 2019 and the recently announced $750 million investment and strategic partnership with an institutional partner of Brookfield Renewable Partners ("Brookfield").

  • PR Newswire15 days ago

    Mangrove Partners Applies for Joint Hearing with Alberta and Ontario Securities Commissions to Review TransAlta Corporation's Brookfield Transaction

    NEW YORK, April 9, 2019 /PRNewswire/ - Mangrove Partners ("Mangrove"), who together with Bluescape Energy Partners is one of the largest shareholders of TransAlta Corporation ("TransAlta" or the "Company") (TSX:TA) (NYSE:TAC) with aggregate ownership of 10.1% of the Company's outstanding shares, yesterday filed an application for a joint hearing with the Alberta Securities Commission ("ASC") and the Ontario Securities Commission ("OSC") in relation to TransAlta's 2019 annual and special meeting of shareholders (the "2019 ASM") and the proposed $750 million transaction (the "Brookfield Transaction") between the Company and Brookfield BRP Holdings (Canada) Inc. ("Brookfield"), pursuant to the terms of an Investment Agreement, dated March 22, 2019, between TransAlta and Brookfield. Among the orders requested, Mangrove seeks an order conditioning the Brookfield Transaction on a vote of TransAlta shareholders not having an interest in the Brookfield Transaction (the "Shareholder Vote").  Such a vote would exclude Brookfield and any other shareholder with a material interest in the Brookfield Transaction.  Mangrove has also requested that the ASC and OSC require TransAlta to provide shareholders with full and accurate disclosures related to the Brookfield Transaction, as well as analysis of the implication of these disclosures for purposes of the Shareholder Vote, in order that shareholders may make a fully informed decision at the 2019 ASM and on the vote to consider approval of the Brookfield Transaction.