TransAlta Corp. (TAC) Sees Large Volume Increase
TransAlta Corp. (NYSE:TAC) shares saw unusually-high trading volume on Friday . Approximately 52,974 shares were traded during 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 subject of several recent analyst reports. Zacks Investment Research raised TransAlta Corp. from a “hold” rating to a “buy” rating and set a $6.00 target price for the company in a research note on Saturday, May 7th. TD Securities cut TransAlta Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, May 4th. Royal Bank Of Canada cut TransAlta Corp. from a “sector perform” rating to an “underperform” rating and raised their target price for the stock from $5.00 to $5.50 in a research note on Wednesday, May 4th. They noted that the move was a valuation call. Finally, Credit Suisse Group AG cut 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 assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $6.38.
The firm’s 50 day moving average price is $5.15 and its 200 day moving average price is $4.50. The stock has a market capitalization of $1.43 billion and a price-to-earnings ratio of 23.62.
The business also recently announced a quarterly dividend, which was paid on Friday, July 1st. Investors of record on Wednesday, June 1st were paid a $0.0313 dividend. This represents a $0.13 dividend on an annualized basis and a yield of 2.52%. This is an increase from TransAlta Corp.’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Friday, May 27th.
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 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 approximately 0.12% of TransAlta Corp. worth $1,202,000 at the end of the most recent quarter.
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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