Shares of TransAlta Corp. (NYSE:TAC) gapped up before the market opened on Tuesday . The stock had previously closed at $4.69, but opened at $4.73. TransAlta Corp. shares last traded at $4.82, with a volume of 26,402 shares traded.

Several research firms have recently issued reports on TAC. Royal Bank Of Canada lowered TransAlta Corp. from a “sector perform” rating to an “underperform” rating and increased their target price for the stock from $5.00 to $5.50 in a report on Wednesday, May 4th. They noted that the move was a valuation call. TD Securities lowered TransAlta Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, May 4th. Zacks Investment Research lowered TransAlta Corp. from a “hold” rating to a “sell” rating in a research note on Friday, July 22nd. Finally, Credit Suisse Group AG lowered TransAlta Corp. from a “neutral” rating to an “underperform” rating in a research note on Friday, April 22nd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $6.38.

The company’s 50-day moving average is $4.93 and its 200-day moving average is $4.70. The stock has a market capitalization of $1.38 billion and a PE ratio of 22.55.

The company also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Thursday, September 1st will be paid a $0.031 dividend. The ex-dividend date is Tuesday, August 30th. This represents a $0.12 annualized dividend and a dividend yield of 2.60%.

A hedge fund recently raised its stake in TransAlta Corp. stock. Scheer Rowlett & Associates Investment Management Ltd. boosted its stake in shares of TransAlta Corp. (NYSE:TAC) by 38.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,965,235 shares of the company’s stock after buying an additional 822,465 shares during the period. TransAlta Corp. comprises about 0.7% of Scheer Rowlett & Associates Investment Management Ltd.’s holdings, making the stock its 24th largest position. Scheer Rowlett & Associates Investment Management Ltd. owned approximately 1.04% of TransAlta Corp. worth $10,481,000 as of its most recent filing with the SEC.

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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