TransAlta Corp. (TAC) Sees Large Volume Increase
Shares of TransAlta Corp. (NYSE:TAC) saw unusually-strong trading volume on Monday . Approximately 126,886 shares traded hands during mid-day trading, an increase of 103% from the previous session’s volume of 62,394 shares.The stock last traded at $4.73 and had previously closed at $4.73.
Several analysts have commented on TAC shares. Credit Suisse Group AG lowered shares of TransAlta Corp. from a “neutral” rating to an “underperform” rating in a research report on Friday, April 22nd. Zacks Investment Research lowered shares of TransAlta Corp. from a “hold” rating to a “sell” rating in a research report on Friday, July 22nd. Royal Bank Of Canada lowered shares of TransAlta Corp. from a “sector perform” rating to an “underperform” rating and lifted their price objective for the stock from $5.00 to $5.50 in a research report on Wednesday, May 4th. They noted that the move was a valuation call. Finally, TD Securities lowered shares of TransAlta Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, May 4th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. TransAlta Corp. currently has a consensus rating of “Hold” and a consensus price target of $6.38.
The firm has a 50-day moving average of $4.94 and a 200-day moving average of $4.69. The firm has a market capitalization of $1.36 billion and a PE ratio of 22.52.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Stockholders of record on Thursday, September 1st will be given a $0.031 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.62%. 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. raised 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. The fund owned 2,965,235 shares of the company’s stock after buying an additional 822,465 shares during the period. TransAlta Corp. makes up approximately 0.7% of Scheer Rowlett & Associates Investment Management Ltd.’s portfolio, 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 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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