TransAlta Corp. (TAC) Receives Consensus Recommendation of “Hold” from Analysts
TransAlta Corp. (NYSE:TAC) has earned a consensus rating of “Hold” from the six analysts that are covering the firm. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $6.50.
Separately, Zacks Investment Research downgraded TransAlta Corp. from a “hold” rating to a “sell” rating in a report on Friday, July 22nd.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Stifel Financial Corp increased its position in shares of TransAlta Corp. by 4.0% in the second quarter. Stifel Financial Corp now owns 26,300 shares of the company’s stock worth $137,000 after buying an additional 1,000 shares in the last quarter. Legal & General Group Plc increased its position in shares of TransAlta Corp. by 22.7% in the second quarter. Legal & General Group Plc now owns 520,023 shares of the company’s stock worth $2,687,000 after buying an additional 96,244 shares in the last quarter. Highbridge Capital Management LLC bought a new position in shares of TransAlta Corp. during the second quarter worth about $253,000. Cubist Systematic Strategies LLC increased its position in shares of TransAlta Corp. by 116.0% in the second quarter. Cubist Systematic Strategies LLC now owns 42,950 shares of the company’s stock worth $223,000 after buying an additional 23,067 shares in the last quarter. Finally, AQR Capital Management LLC bought a new position in shares of TransAlta Corp. during the second quarter worth about $132,000. Institutional investors and hedge funds own 41.90% of the company’s stock.
Shares of TransAlta Corp. (NYSE:TAC) traded up 1.75% on Wednesday, hitting $4.65. The stock had a trading volume of 62,652 shares. TransAlta Corp. has a 12 month low of $2.54 and a 12 month high of $5.62. The company has a market cap of $1.34 billion, a P/E ratio of 8.14 and a beta of 0.56. The company’s 50 day moving average price is $4.48 and its 200-day moving average price is $4.82.
The business also recently declared a quarterly dividend, which will be paid on Sunday, January 1st. Stockholders of record on Thursday, December 1st will be issued a $0.0301 dividend. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.64%. TransAlta Corp.’s dividend payout ratio is presently 20.34%.
TransAlta Corp. Company Profile
TransAlta Corporation (TransAlta) is a non-regulated electricity generation and energy marketing company with an aggregate net ownership interest of approximately 8,730 megawatts of generating capacity. The Company is engaged in the production and sale of electric energy. TransAlta is organized into seven segments: Canadian Coal, U.S.
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