Scotiabank upgraded shares of TransAlta Corp. (NYSE:TAC) from an underperform rating to a sector perform rating in a research note published on Monday, The Fly reports.

TAC has been the topic of a number of other research reports. Zacks Investment Research cut shares of TransAlta Corp. from a hold rating to a sell rating in a research note on Friday, July 22nd. Royal Bank Of Canada upgraded shares of TransAlta Corp. from an underperform rating to a sector perform rating and set a $6.00 target price on the stock in a research note on Monday. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. The stock has a consensus rating of Hold and a consensus target price 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 52 week low of $2.54 and a 52 week high of $5.62. The stock has a market cap of $1.19 billion, a PE ratio of 7.37 and a beta of 0.59. The stock has a 50 day moving average of $4.44 and a 200-day moving average of $4.78.

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

Large investors have recently added to or reduced their stakes in the stock. AXA bought a new stake in TransAlta Corp. during the second quarter valued at about $112,000. Citadel Advisors LLC boosted its stake in TransAlta Corp. by 66.4% in the second quarter. Citadel Advisors LLC now owns 24,200 shares of the company’s stock valued at $125,000 after buying an additional 9,658 shares during the last quarter. AQR Capital Management LLC bought a new stake in TransAlta Corp. during the second quarter valued at about $132,000. Stifel Financial Corp boosted its stake in TransAlta Corp. by 4.0% in the second quarter. Stifel Financial Corp now owns 26,300 shares of the company’s stock valued at $137,000 after buying an additional 1,000 shares during the last quarter. Finally, Shell Asset Management Co. boosted its stake in TransAlta Corp. by 24.5% in the second quarter. Shell Asset Management Co. now owns 24,400 shares of the company’s stock valued at $164,000 after buying an additional 4,800 shares during the last quarter. Hedge funds and other institutional investors 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

The Fly

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.