TransAlta Corp. (TAC) Trading Down 2.2%
TransAlta Corp. (NYSE:TAC) shares were down 2.2% on Friday . The stock traded as low as $4.47 and last traded at $4.50, with a volume of 54,482 shares. The stock had previously closed at $4.60.
A number of research analysts recently commented on TAC shares. Zacks Investment Research cut TransAlta Corp. from a “buy” rating to a “hold” rating in a report on Saturday. TD Securities cut TransAlta Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, May 4th. Credit Suisse Group AG cut TransAlta Corp. from a “neutral” rating to an “underperform” rating in a report on Friday, April 22nd. Finally, Royal Bank Of Canada cut TransAlta Corp. from a “sector perform” rating to an “underperform” rating and upped their price objective for the company from $5.00 to $5.50 in a report on Wednesday, May 4th. They noted that the move was a valuation call. 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. TransAlta Corp. presently has an average rating of “Hold” and a consensus target price of $6.19.
The company has a 50-day moving average price of $4.87 and a 200-day moving average price of $4.71. The stock has a market cap of $1.30 billion and a P/E ratio of 7.87.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Investors of record on Thursday, September 1st will be issued a dividend of $0.031 per share. The ex-dividend date is Tuesday, August 30th. This represents a $0.12 annualized dividend and a dividend yield of 2.76%.
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.