RBC Capital Markets upgraded shares of TransAlta Corp. (NYSE:TAC) from an underperform rating to a sector perform rating in a research note released on Monday morning. RBC Capital Markets currently has $6.00 price objective on the stock.

TAC has been the subject of a number of other research reports. Zacks Investment Research raised shares of TransAlta Corp. from a sell rating to a hold rating in a research note on Wednesday, August 3rd. Royal Bank Of Canada raised shares of TransAlta Corp. from an underperform rating to a sector perform rating and set a $6.00 price objective for the company in a research note on Monday. Finally, Scotiabank raised shares of TransAlta Corp. from an underperform rating to a sector perform rating in a research note on Monday. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. TransAlta Corp. presently has a consensus rating of Hold and a consensus price target of $5.56.

Analyst Recommendations for TransAlta Corp. (NYSE:TAC)

Shares of TransAlta Corp. (NYSE:TAC) opened at 4.15 on Monday. TransAlta Corp. has a 12-month low of $2.54 and a 12-month high of $5.62. The firm has a market capitalization of $1.19 billion, a PE ratio of 7.37 and a beta of 0.59. The firm has a 50-day moving average of $4.44 and a 200-day moving average of $4.78.

The company also recently declared a quarterly dividend, which will be paid on Sunday, January 1st. Investors of record on Thursday, December 1st will be issued a dividend of $0.0301 per share. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $0.12 dividend on an annualized basis and a yield of 2.90%. TransAlta Corp.’s dividend payout ratio is currently 85.72%.

A number of hedge funds and other institutional investors have recently modified their holdings of TAC. Vertex One Asset Management Inc. raised its position in shares of TransAlta Corp. by 57.9% in the second quarter. Vertex One Asset Management Inc. now owns 6,466,600 shares of the company’s stock valued at $33,461,000 after buying an additional 2,370,300 shares during the period. Vanguard Group Inc. raised its position in shares of TransAlta Corp. by 14.4% in the second quarter. Vanguard Group Inc. now owns 4,965,764 shares of the company’s stock valued at $25,922,000 after buying an additional 623,815 shares during the period. Mackenzie Financial Corp bought a new position in shares of TransAlta Corp. during the second quarter valued at approximately $25,054,000. Credit Suisse AG raised its position in shares of TransAlta Corp. by 323.7% in the second quarter. Credit Suisse AG now owns 2,528,347 shares of the company’s stock valued at $13,198,000 after buying an additional 1,931,685 shares during the period. Finally, Canada Pension Plan Investment Board raised its position in shares of TransAlta Corp. by 20,444.0% in the third quarter. Canada Pension Plan Investment Board now owns 1,295,707 shares of the company’s stock valued at $5,748,000 after buying an additional 1,289,400 shares during the period. Institutional investors and hedge funds own 40.94% of the company’s stock.

About TransAlta Corp.

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.

5 Day Chart for NYSE:TAC

Receive News & Stock Ratings for TransAlta Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TransAlta Corp. and related stocks with our FREE daily email newsletter.