TransAlta Corp. (TAC) Raised to “Sector Perform” at Royal Bank Of Canada
Royal Bank Of Canada upgraded shares of TransAlta Corp. (NYSE:TAC) from an underperform rating to a sector perform rating in a report issued on Monday. Royal Bank Of Canada currently has $6.00 price target on the stock.
Separately, Zacks Investment Research raised shares of TransAlta Corp. from a sell rating to a hold rating in a research note on Wednesday, August 3rd. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $5.56.
TransAlta Corp. (NYSE:TAC) opened at 4.15 on Monday. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 7.37 and a beta of 0.59. The company has a 50 day moving average of $4.44 and a 200 day moving average of $4.78. TransAlta Corp. has a 52 week low of $2.54 and a 52 week high of $5.62.
The business also recently announced a quarterly dividend, which will be paid on Sunday, January 1st. Stockholders of record on Thursday, December 1st will be paid a dividend of $0.0301 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend is Tuesday, November 29th. TransAlta Corp.’s dividend payout ratio is currently 85.72%.
Hedge funds have recently modified their holdings of the stock. AXA bought a new stake in shares of TransAlta Corp. during the second quarter worth about $112,000. Citadel Advisors LLC raised its stake in shares of TransAlta Corp. by 66.4% in the second quarter. Citadel Advisors LLC now owns 24,200 shares of the company’s stock worth $125,000 after buying an additional 9,658 shares in the last quarter. AQR Capital Management LLC bought a new stake in shares of TransAlta Corp. during the second quarter worth about $132,000. Stifel Financial Corp raised its stake 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. Finally, Shell Asset Management Co. raised its stake in shares of TransAlta Corp. by 24.5% in the second quarter. Shell Asset Management Co. now owns 24,400 shares of the company’s stock worth $164,000 after buying an additional 4,800 shares in the last quarter. 40.94% of the stock is owned by hedge funds and other institutional investors.
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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