TransAlta Corp. (TAC) Sees Strong Trading Volume
TransAlta Corp. (NYSE:TAC) shares saw unusually-high trading volume on Friday . Approximately 52,974 shares were traded during mid-day trading, a decline of 9% from the previous session’s volume of 58,174 shares.The stock last traded at $4.94 and had previously closed at $5.00.
TAC has been the topic of a number of recent research reports. Zacks Investment Research raised shares of TransAlta Corp. from a “sell” rating to a “buy” rating and set a $5.00 target price on the stock in a report on Thursday, March 17th. Credit Suisse Group AG cut shares of TransAlta Corp. from a “neutral” rating to an “underperform” rating in a report on Friday, April 22nd. Royal Bank Of Canada cut shares of TransAlta Corp. from a “sector perform” rating to an “underperform” rating and lifted their target price for the company from $5.00 to $5.50 in a report on Wednesday, May 4th. They noted that the move was a valuation call. Finally, TD Securities cut shares of TransAlta Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, May 4th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $6.38.
The company has a market cap of $1.43 billion and a P/E ratio of 23.40. The company has a 50 day moving average of $5.15 and a 200 day moving average of $4.49.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 1st. Stockholders of record on Wednesday, June 1st were paid a dividend of $0.0313 per share. This represents a $0.13 annualized dividend and a dividend yield of 2.52%. The ex-dividend date of this dividend was Friday, May 27th. This is a boost from TransAlta Corp.’s previous quarterly dividend of $0.03.
An institutional investor recently raised its position in TransAlta Corp. stock. Russell Frank Co increased its stake in TransAlta Corp. (NYSE:TAC) by 261.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 343,514 shares of the company’s stock after buying an additional 248,424 shares during the period. Russell Frank Co owned 0.12% of TransAlta Corp. worth $1,202,000 at the end of the most recent reporting period.
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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