TransAlta Corp. (TAC) Rating Increased to Outperform Market Weight at National Bank Financial
TransAlta Corp. (NYSE:TAC) (TSE:TA) was upgraded by National Bank Financial from a “sector perform market weight” rating to an “outperform market weight” rating in a research report issued on Thursday.
TAC has been the topic of a number of other reports. Scotiabank raised TransAlta Corp. from an “underperform” rating to a “sector perform” rating in a research report on Monday, November 7th. Zacks Investment Research raised TransAlta Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, August 3rd. Royal Bank Of Canada raised TransAlta Corp. from an “underperform” rating to a “sector perform” rating and set a $6.00 price target on the stock in a research report on Monday, November 7th. RBC Capital Markets raised TransAlta Corp. from an “underperform” rating to a “sector perform” rating and set a $6.00 price target on the stock in a research report on Monday, November 7th. Finally, BMO Capital Markets set a $8.00 price target on TransAlta Corp. and gave the stock a “hold” rating in a research report on Friday. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $6.31.
Shares of TransAlta Corp. (NYSE:TAC) traded down 0.6349% during trading on Thursday, reaching $5.4154. The company’s stock had a trading volume of 39,767 shares. TransAlta Corp. has a one year low of $2.54 and a one year high of $5.62. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of 42.6409 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.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, January 1st. Investors of record on Thursday, December 1st will be issued a $0.0301 dividend. The ex-dividend date is Tuesday, November 29th. This represents a $0.12 dividend on an annualized basis and a yield of 2.27%. TransAlta Corp.’s payout ratio is currently 85.72%.
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A number of institutional investors have recently made changes to their positions in TAC. Credit Suisse AG raised its position 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 last quarter. 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 in the last quarter. Vanguard Group Inc. raised its stake 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 in the last quarter. Mackenzie Financial Corp bought a new stake in shares of TransAlta Corp. during the second quarter worth $25,054,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of TransAlta Corp. during the third quarter worth $11,058,000. Institutional investors own 41.87% 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.
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