TRANSALTA CORPORATION
In the published model solve dated 2026-Q2, anchored at $12.66, TRANSALTA CORPORATION (TAC) is priced for today's economics sustained for ~7.5 years. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 11, 2026 from SEC EDGAR filings.
• TransAlta is a merchant power generator, not a regulated utility, which makes the stock a leveraged claim on Alberta power prices and on converting its Keephills data-center memorandum with CPP Investments and Brookfield (initial 230 MW, potential expansion toward 1 GW) into contracted load. • The biggest risk is that the trailing year already shows the downside: negative GAAP earnings, first-quarter revenue down to $565 million from $758 million on soft Alberta prices, and interest coverage
Is TAC overvalued? See what's priced in →
171 institutional managers reported holding TAC in 13F filings for the quarter ended 2026-03-31. Together they hold about 73% of the company; the top 10 hold 48%. 25 opened new positions that quarter. Held by FMR (Fidelity), Vanguard Group, Millennium Management, among others. On the short side, 5.7M shares were sold short as of the 2026-06-15 count, about 2% of shares outstanding (2.1 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
TAC's share count grew 9.6% over the past five years. It pays a dividend, and has paid one every year in our records (11 and counting). Cash returned over the past three years: $113.97M in dividends.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 11, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.