TransAlta Co. (TA) Given Average Recommendation of “Hold” by Analysts
TransAlta Co. (TSE:TA) (NYSE:TAC) has been assigned an average rating of “Hold” from the seven brokerages that are covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is C$8.29.
Several research analysts recently issued reports on TA shares. TD Securities reissued a “hold” rating and issued a C$8.00 price target on shares of TransAlta in a research report on Friday, April 21st. BMO Capital Markets reissued a “market perform” rating and issued a C$8.00 price target on shares of TransAlta in a research report on Tuesday, May 23rd. National Bank Financial increased their price target on shares of TransAlta from C$8.50 to C$9.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 2nd. Finally, Scotiabank set a C$8.00 price target on shares of TransAlta and gave the stock a “sector perform” rating in a research report on Friday.
In other TransAlta news, insider Francois Gratton sold 555 shares of the company’s stock in a transaction dated Friday, June 16th. The shares were sold at an average price of C$45.69, for a total transaction of C$25,357.95.
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Shares of TransAlta (TSE:TA) traded up 0.13% during mid-day trading on Tuesday, reaching $8.01. The company had a trading volume of 349,065 shares. The company’s 50-day moving average price is $8.10 and its 200-day moving average price is $7.60. TransAlta has a 52-week low of $5.11 and a 52-week high of $8.38. The company has a market capitalization of $2.31 billion and a PE ratio of 41.94.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 1st will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 2.00%. The ex-dividend date is Wednesday, August 30th.
TransAlta Corporation operates as non-regulated electricity generation and energy marketing company in Canada, the United States, and Western Australia. The company operates through eight segments: Canadian Coal, U.S. Coal, Canadian Gas, Australian Gas, Wind and Solar, Hydro, Energy Marketing, and Corporate.
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