TransAlta Corp. (NYSE:TAC) (TSE:TA) has been assigned a $8.00 price objective by BMO Capital Markets in a note issued to investors on Friday. The firm presently has a “hold” rating on the stock. BMO Capital Markets’ price target indicates a potential upside of 50.94% from the company’s current price.

Several other research firms have also issued reports on TAC. 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 note on Monday, November 7th. 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 note on Friday, August 12th. 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 note on Monday, November 7th. Finally, Scotiabank raised shares of TransAlta Corp. from an “underperform” rating to a “sector perform” rating in a research note on Monday, November 7th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $6.31.

Analyst Recommendations for TransAlta Corp. (NYSE:TAC)

Shares of TransAlta Corp. (NYSE:TAC) opened at 5.50 on Friday. The company has a market capitalization of $1.58 billion, a PE ratio of 43.31 and a beta of 0.59. The firm’s 50-day moving average price is $4.36 and its 200 day moving average price is $4.69. TransAlta Corp. has a 52 week low of $2.54 and a 52 week high of $5.62.

The business also recently declared a quarterly dividend, which will be paid on Sunday, January 1st. Investors of record on Thursday, December 1st will be paid a $0.0301 dividend. 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 dividend payout ratio is presently 85.72%.

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Hedge funds and other institutional investors have recently modified their holdings of the stock. AXA bought a new position in shares of TransAlta Corp. during the second quarter worth $112,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of TransAlta Corp. by 11.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,478 shares of the company’s stock worth $113,000 after buying an additional 2,528 shares in the last quarter. Citadel Advisors LLC raised its position 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 position in shares of TransAlta Corp. during the second quarter worth $132,000. Finally, Stifel Financial Corp raised its position 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. 41.87% 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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