National Bank Financial upgraded shares of TransAlta Corp. (NYSE:TAC) (TSE:TA) from a sector perform market weight rating to an outperform market weight rating in a report issued on Thursday.

Several other research analysts have also commented on TAC. Zacks Investment Research raised shares of TransAlta Corp. from a sell rating to a hold rating in a research note on Wednesday, August 3rd. Royal Bank Of Canada raised shares of TransAlta Corp. from an underperform rating to a sector perform rating and set a $6.00 price objective for the company in a research note on Monday, November 7th. Scotiabank raised shares of TransAlta Corp. from an underperform rating to a sector perform rating in a research note on Monday, November 7th. RBC Capital Markets raised shares of TransAlta Corp. from an underperform rating to a sector perform rating and set a $6.00 price objective for the company in a research note on Monday, November 7th. Finally, BMO Capital Markets set a $8.00 target price on shares of TransAlta Corp. and gave the company a hold rating in a research note on Friday, November 25th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. TransAlta Corp. has an average rating of Hold and a consensus price target of $6.31.

Shares of TransAlta Corp. (NYSE:TAC) opened at 5.40 on Thursday. The company’s 50-day moving average is $4.36 and its 200 day moving average is $4.69. TransAlta Corp. has a 12 month low of $2.54 and a 12 month high of $5.62. The stock has a market capitalization of $1.55 billion, a P/E ratio of 42.52 and a beta of 0.59.

ILLEGAL ACTIVITY NOTICE: “National Bank Financial Upgrades TransAlta Corp. (TAC) to Outperform Market Weight” was originally published by Daily Political and is the propert of of Daily Political. If you are viewing this story on another site, it was copied illegally and republished in violation of U.S. and international copyright & trademark law. The legal version of this story can be viewed at http://www.dailypolitical.com/2016/11/29/national-bank-financial-upgrades-transalta-corp-tac-to-outperform-market-weight.html.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, January 1st. Investors of record on Thursday, December 1st will be issued a $0.0301 dividend. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $0.12 annualized dividend and a dividend yield of 2.23%. TransAlta Corp.’s payout ratio is currently 85.72%.

Hedge funds have recently added to or reduced their stakes in the stock. AXA purchased a new stake in TransAlta Corp. during the second quarter valued at $112,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in TransAlta Corp. by 11.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,478 shares of the company’s stock valued at $113,000 after buying an additional 2,528 shares during the last quarter. Citadel Advisors LLC increased its stake in TransAlta Corp. by 66.4% in the second quarter. Citadel Advisors LLC now owns 24,200 shares of the company’s stock valued at $125,000 after buying an additional 9,658 shares during the last quarter. AQR Capital Management LLC purchased a new stake in TransAlta Corp. during the second quarter valued at $132,000. Finally, Stifel Financial Corp increased its stake in TransAlta Corp. by 4.0% in the second quarter. Stifel Financial Corp now owns 26,300 shares of the company’s stock valued at $137,000 after buying an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 41.87% of the company’s stock.

TransAlta Corp. Company Profile

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.

5 Day Chart for NYSE:TAC

Receive News & Ratings for TransAlta Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TransAlta Corp. and related companies with MarketBeat.com's FREE daily email newsletter.