TransAlta Corp. (NYSE:TAC) (TSE:TA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

According to Zacks, “TransAlta is Canada’s largest non-regulated electric generation and marketing company. “

A number of other brokerages have also recently commented on TAC. RBC Capital Markets raised 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, November 7th. Scotiabank raised TransAlta Corp. from an “underperform” rating to a “sector perform” rating in a research note on Monday, November 7th. Finally, Royal Bank Of Canada raised 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, November 7th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. TransAlta Corp. presently has an average rating of “Hold” and an average target price of $5.56.

Analyst Recommendations for TransAlta Corp. (NYSE:TAC)

TransAlta Corp. (NYSE:TAC) opened at 3.90 on Wednesday. The firm has a 50-day moving average price of $4.36 and a 200-day moving average price of $4.74. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 30.47 and a beta of 0.59. TransAlta Corp. has a one year low of $2.54 and a one year high of $5.62.

The business also recently announced a quarterly dividend, which will be paid on Sunday, January 1st. Investors of record on Thursday, December 1st will be given a dividend of $0.0301 per share. The ex-dividend date is Tuesday, November 29th. This represents a $0.12 annualized dividend and a dividend yield of 3.09%. TransAlta Corp.’s payout ratio is 85.72%.

A number of hedge funds have recently modified their holdings of TAC. Credit Suisse AG raised its stake in shares of TransAlta Corp. by 238.1% in the third quarter. Credit Suisse AG now owns 8,547,127 shares of the company’s stock worth $38,035,000 after buying an additional 6,018,780 shares during the period. Mackenzie Financial Corp acquired a new stake in shares of TransAlta Corp. during the second quarter worth approximately $25,054,000. The Manufacturers Life Insurance Company acquired a new stake in shares of TransAlta Corp. during the third quarter worth approximately $11,058,000. Vertex One Asset Management Inc. raised its stake 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 worth $33,461,000 after buying an additional 2,370,300 shares during the period. Finally, Canada Pension Plan Investment Board raised its stake 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 worth $5,748,000 after buying an additional 1,289,400 shares during the period. Institutional investors and hedge funds own 41.29% 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

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