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Brookfield Asset Management increased stake in TransAlta Corporation

Published 04/01/2021, 04:24 PM
Updated 04/01/2021, 04:30 PM
© Reuters. Brookfield Asset Management increased stake in TransAlta Corporation

On the 10th of March, Brookfield Asset Management added 2.2 million TransAlta Corporation (NYSE:TAC) shares for $19 million at an average price of $8.67 per share. Shares of TransAlta Corporation are up 6.57% since the transaction.

Brookfield Asset Management's holding in TransAlta Corporation increased to about 35 million shares with the purchase.

Brookfield Asset Management first bought TransAlta Corporation stock in the fourth quarter of 2014. Brookfield Asset Management also owns FirstEnergy Corp (NYSE:FE), Entergy Corp (NYSE:ETR), American Electric Power Inc (NASDAQ:AEP) and NextEra Energy Inc (NYSE:NEE). TransAlta Corporation is its number one position by number of shares and market value among utilities - electric stocks.

Other investors who also added to their TransAlta Corporation shares include Millennium Management. Contrary to Brookfield Asset Management, Point72 Asset Management reduced TAC shares.

Brookfield Asset Management also reduced their share in Brookfield Renewable Corporatio (BEPC). The total value of the shares sold is estimated at around $573 million.

In addition, Brookfield Asset Management increased their share in Brookfield Renewable Partners L (NYSE:BEP) and Brookfield Property Partners L.P. (NASDAQ:BPY). The total value of the shares bought is estimated at around $12 billion.

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