Time to eliminate my position in TransAlta !

I eliminated my position in TransAlta because I am concerned that investors in the stock were more bullish lately on Alberta power prices, and not on the force majeure/PPA termination proceeding. The stock had appreciated considerably and I felt that this was a good time to exit the remainder of my position. The dividend yield of 5.5%, which is below some of the former income trusts/high dividend-paying corporations that I cover, I feel there is better prospects available for near-term dividend growth for my portfolio.

Company Description

TransAlta is a non-regulated electric generation and marketing company with operations in Canada, Australia, and the U.S. Net generating capacity is approximately 8,700 MW. About 55% of the company's generating capacity is coal-fired, with about 20% gas-fired, and 25% from renewables (wind, hydro, biomass and geothermal).