TransAlta Corp. (TAC) Stock Price Down 2.2%
TransAlta Corp. (NYSE:TAC) fell 2.2% during mid-day trading on Friday . The company traded as low as $4.47 and last traded at $4.50, with a volume of 54,482 shares trading hands. The stock had previously closed at $4.60.
A number of brokerages have issued reports on TAC. Zacks Investment Research upgraded TransAlta Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, August 3rd. Royal Bank Of Canada cut TransAlta Corp. from a “sector perform” rating to an “underperform” rating and upped their target price for the company from $5.00 to $5.50 in a research note on Wednesday, May 4th. They noted that the move was a valuation call. Credit Suisse Group AG cut TransAlta Corp. from a “neutral” rating to an “underperform” rating in a research note on Friday, April 22nd. Finally, TD Securities cut TransAlta Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, May 4th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $6.19.
The stock has a 50-day moving average of $4.87 and a 200 day moving average of $4.71. The stock has a market cap of $1.30 billion and a P/E ratio of 21.23.
The company also recently declared a quarterly dividend, which will be paid on Saturday, October 1st. Stockholders of record on Thursday, September 1st will be paid a $0.031 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date is Tuesday, August 30th.
A hedge fund recently raised its stake in TransAlta Corp. stock. Scheer Rowlett & Associates Investment Management Ltd. boosted its position in TransAlta Corp. (NYSE:TAC) by 38.4% during the fourth quarter, according to its most recent 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 approximately 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 about 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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