BidaskClub downgraded shares of TransAlta Corporation (NYSE:TAC) (TSE:TA) from a buy rating to a hold rating in a research report sent to investors on Wednesday.

Other research analysts have also issued reports about the stock. Zacks Investment Research lowered shares of TransAlta Corporation from a hold rating to a strong sell rating in a research note on Friday, May 12th. TheStreet lowered shares of TransAlta Corporation from a c rating to a d+ rating in a research note on Friday, May 5th. Six equities research analysts have rated the stock with a hold rating, The company has an average rating of Hold and a consensus price target of $6.83.

TransAlta Corporation (NYSE:TAC) opened at 6.30 on Wednesday. The company has a 50 day moving average price of $5.67 and a 200 day moving average price of $5.60. TransAlta Corporation has a 52-week low of $3.75 and a 52-week high of $6.45. The firm has a market capitalization of $1.81 billion, a P/E ratio of 42.86 and a beta of 0.70.

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The company also recently declared a quarterly dividend, which was paid on Saturday, July 1st. Stockholders of record on Thursday, June 1st were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Tuesday, May 30th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.91%. TransAlta Corporation’s dividend payout ratio (DPR) is 80.01%.

Several hedge funds and other institutional investors have recently modified their holdings of TAC. Parametric Portfolio Associates LLC raised its position in shares of TransAlta Corporation by 9.9% in the first quarter. Parametric Portfolio Associates LLC now owns 30,854 shares of the utilities provider’s stock worth $180,000 after buying an additional 2,787 shares during the period. TD Asset Management Inc. raised its position in shares of TransAlta Corporation by 8.4% in the first quarter. TD Asset Management Inc. now owns 8,978,952 shares of the utilities provider’s stock worth $52,649,000 after buying an additional 694,653 shares during the period. Karp Capital Management Corp purchased a new position in shares of TransAlta Corporation during the first quarter worth about $553,000. World Asset Management Inc raised its position in shares of TransAlta Corporation by 0.4% in the first quarter. World Asset Management Inc now owns 17,762 shares of the utilities provider’s stock worth $104,000 after buying an additional 66 shares during the period. Finally, ING Groep NV purchased a new position in shares of TransAlta Corporation during the first quarter worth about $133,000. Institutional investors and hedge funds own 49.87% of the company’s stock.

TransAlta Corporation Company Profile

TransAlta Corporation (TransAlta) is a non-regulated electricity generation and energy marketing company with an aggregate net ownership interest of approximately 8,720 megawatts of generating capacity. The Company is engaged in the production and sale of electric energy. It focuses on generating and marketing electricity in Canada, the United States and Western Australia through its diversified portfolio of facilities fuelled by coal, natural gas, diesel, hydro, wind and solar.

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