TransAlta Corp. (TAC) Shares Up 3%
TransAlta Corp. (NYSE:TAC) shot up 3% during trading on Monday . The company traded as high as $4.86 and last traded at $4.81, with a volume of 54,381 shares changing hands. The stock had previously closed at $4.67.
A number of brokerages have recently commented on TAC. Zacks Investment Research raised TransAlta Corp. from a “hold” rating to a “buy” rating and set a $6.00 price objective for the company in a research report on Saturday, May 7th. Credit Suisse Group AG downgraded TransAlta Corp. from a “neutral” rating to an “underperform” rating in a research report on Friday, April 22nd. TD Securities downgraded TransAlta Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, May 4th. Finally, Royal Bank Of Canada downgraded TransAlta Corp. from a “sector perform” rating to an “underperform” rating and lifted their price objective for the company from $5.00 to $5.50 in a research report on Wednesday, May 4th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $6.38.
The stock has a market capitalization of $1.41 billion and a PE ratio of 23.11. The stock’s 50 day moving average price is $5.12 and its 200-day moving average price is $4.57.
The business also recently declared a quarterly dividend, which will be paid on Saturday, October 1st. Investors of record on Thursday, September 1st will be issued a $0.031 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend is Tuesday, August 30th.
An institutional investor recently raised its position in TransAlta Corp. stock. Russell Frank Co increased its position in shares of TransAlta Corp. (NYSE:TAC) by 261.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent SEC filing.
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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