Brokerages Set TransAlta Co. (TA) PT at $8.00
TransAlta Co. (TSE:TA) (NYSE:TAC) has earned a consensus recommendation of “Hold” from the six ratings firms that are covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is C$8.00.
A number of research firms have recently commented on TA. Scotiabank set a C$8.00 price objective on shares of TransAlta and gave the company a “sector perform” rating in a research note on Friday, August 11th. National Bank Financial upped their price objective on shares of TransAlta from C$8.50 to C$9.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 2nd. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a C$8.00 price objective on shares of TransAlta in a research note on Tuesday, May 23rd.
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Shares of TransAlta (TA) traded up 0.53% during trading on Friday, reaching $7.54. 264,647 shares of the company’s stock were exchanged. TransAlta has a 52-week low of $5.11 and a 52-week high of $8.50. The stock has a market cap of $2.17 billion and a PE ratio of 69.81. The stock’s 50 day moving average price is $7.87 and its 200-day moving average price is $7.62.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 1st will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend is Wednesday, August 30th.
In related news, Director David Lawrence Mowat bought 1,250 shares of the business’s stock in a transaction that occurred on Thursday, August 24th. The shares were acquired at an average cost of C$44.75 per share, with a total value of C$55,937.50. Also, insider Francois Gratton sold 555 shares of the stock in a transaction on Friday, June 16th. The stock was sold at an average price of C$45.69, for a total transaction of C$25,357.95.
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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