TransAlta Corporation (NYSE:TAC) (TSE:TA) has been assigned an average recommendation of “Hold” from the seven analysts that are presently covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating. The average 1 year price target among brokers that have issued a report on the stock in the last year is $7.00.

Several equities research analysts recently issued reports on TAC shares. Zacks Investment Research raised TransAlta Corporation from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a research report on Tuesday, August 15th. BidaskClub lowered TransAlta Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th.

Several hedge funds have recently bought and sold shares of TAC. CIBC Asset Management Inc raised its position in shares of TransAlta Corporation by 37.5% during the 2nd quarter. CIBC Asset Management Inc now owns 17,645,218 shares of the utilities provider’s stock valued at $112,669,000 after acquiring an additional 4,809,107 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of TransAlta Corporation by 2,971.4% during the 2nd quarter. Goldman Sachs Group Inc. now owns 3,269,002 shares of the utilities provider’s stock valued at $20,922,000 after acquiring an additional 3,162,567 shares in the last quarter. Sentry Investments Corp. acquired a new stake in shares of TransAlta Corporation during the 2nd quarter valued at approximately $8,986,000. Bank of Nova Scotia raised its position in shares of TransAlta Corporation by 201.8% during the 2nd quarter. Bank of Nova Scotia now owns 519,860 shares of the utilities provider’s stock valued at $3,324,000 after acquiring an additional 347,596 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its position in shares of TransAlta Corporation by 12.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 2,831,139 shares of the utilities provider’s stock valued at $18,072,000 after acquiring an additional 305,939 shares in the last quarter. 50.62% of the stock is currently owned by institutional investors and hedge funds.

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Shares of TransAlta Corporation (TAC) traded down 1.59% during trading on Thursday, hitting $6.20. 20,857 shares of the stock were exchanged. The company has a market cap of $1.78 billion, a price-to-earnings ratio of 69.66 and a beta of 0.71. TransAlta Corporation has a 12-month low of $3.75 and a 12-month high of $6.60. The firm has a 50 day moving average of $6.06 and a 200-day moving average of $5.92.

About TransAlta Corporation

TransAlta Corporation (TransAlta) is a non-regulated electricity generation and energy marketing company with an aggregate net ownership interest of approximately 8,720 megawatts of generating capacity. The Company is engaged in the production and sale of electric energy. It focuses on generating and marketing electricity in Canada, the United States and Western Australia through its diversified portfolio of facilities fuelled by coal, natural gas, diesel, hydro, wind and solar.

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