TransAlta Co. (TSE:TA) (NYSE:TAC) hit a new 52-week high during trading on Friday . The stock traded as high as C$7.83 and last traded at C$7.79, with a volume of 632803 shares traded. The stock had previously closed at C$7.60.

Several equities research analysts have commented on the company. National Bank Financial upped their price target on TransAlta from C$8.00 to C$9.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 7th. CIBC upped their target price on TransAlta from C$8.00 to C$8.50 in a research report on Tuesday, August 7th. Canaccord Genuity set a C$7.00 target price on TransAlta and gave the stock a “hold” rating in a research report on Friday, May 4th. Finally, BMO Capital Markets decreased their target price on TransAlta from C$8.00 to C$7.50 in a research report on Wednesday, May 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. TransAlta currently has an average rating of “Hold” and a consensus price target of C$8.31.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Tuesday, September 4th will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Friday, August 31st.

In related news, insider Douglas French bought 2,187 shares of the firm’s stock in a transaction dated Friday, June 8th. The stock was bought at an average price of C$45.75 per share, with a total value of C$100,055.25. Insiders bought 3,217 shares of company stock valued at $148,758 in the last ninety days.

About TransAlta (TSE:TA)

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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