Shares of TransAlta Corp. (NYSE:TAC) (TSE:TA) have been assigned an average rating of “Hold” from the seven ratings firms that are currently covering the stock. One investment analyst has rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $6.67.

Several research firms have recently weighed in on TAC. Zacks Investment Research raised shares of TransAlta Corp. from a “hold” rating to a “buy” rating and set a $5.25 target price on the stock in a research report on Friday, August 12th. BMO Capital Markets set a $8.00 target price on shares of TransAlta Corp. and gave the stock a “hold” rating in a research report on Friday. RBC Capital Markets raised 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 report on Monday, November 7th. Scotiabank raised shares of TransAlta Corp. from an “underperform” rating to a “sector perform” rating in a research report on Monday, November 7th. Finally, Royal Bank Of Canada raised 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 report on Monday, November 7th.

TransAlta Corp. (NYSE:TAC) opened at 5.30 on Wednesday. The stock has a 50 day moving average of $4.33 and a 200-day moving average of $4.70. 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 $1.53 billion, a P/E ratio of 41.73 and a beta of 0.59.

The business also recently disclosed 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. This represents a $0.12 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Tuesday, November 29th. TransAlta Corp.’s payout ratio is presently 85.72%.

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A number of hedge funds and other institutional investors have recently made changes to their positions in TAC. Spark Investment Management LLC increased its position in shares of TransAlta Corp. by 62.8% in the second quarter. Spark Investment Management LLC now owns 190,480 shares of the company’s stock worth $990,000 after buying an additional 73,480 shares during the last quarter. Credit Suisse AG increased 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 worth $13,198,000 after buying an additional 1,931,685 shares during the last quarter. Scotia Capital Inc. increased its position in shares of TransAlta Corp. by 10.3% in the second quarter. Scotia Capital Inc. now owns 1,077,017 shares of the company’s stock worth $5,602,000 after buying an additional 100,134 shares during the last quarter. AXA bought a new position in shares of TransAlta Corp. during the second quarter worth approximately $112,000. Finally, Vanguard Group Inc. increased 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 worth $25,922,000 after buying an additional 623,815 shares during the last quarter. 40.92% of the stock is currently 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.

5 Day Chart for NYSE:TAC

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