Today, BMO Capital Markets Analysts Give TransAlta Corp. (TAC) a $8.00 Price Target

Today, BMO Capital Markets Analysts Give TransAlta Corp. (TAC) a $8.00 Price Target

TransAlta Corp. (NYSE:TAC) (TSE:TA) received a $8.00 price objective from investment analysts at BMO Capital Markets in a report issued on Friday. The brokerage presently has a “hold” rating on the stock. BMO Capital Markets’ target price points to a potential upside of 50.94% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of TransAlta Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, August 3rd. Royal Bank Of Canada raised shares of TransAlta Corp. from an “underperform” rating to a “sector perform” rating and set a $6.00 target price on the stock in a research report on Monday, November 7th. Scotiabank raised shares of TransAlta Corp. from an “underperform” rating to a “sector perform” rating in a research report on Monday, November 7th. Finally, RBC Capital Markets raised shares of TransAlta Corp. from an “underperform” rating to a “sector perform” rating and set a $6.00 target price on the stock in a research report on Monday, November 7th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. TransAlta Corp. currently has a consensus rating of “Hold” and an average price target of $6.31.

Shares of TransAlta Corp. (NYSE:TAC) traded up 24.71% during midday trading on Friday, hitting $5.30. 330,513 shares of the company’s stock were exchanged. The stock has a market cap of $1.53 billion, a PE ratio of 41.73 and a beta of 0.59. TransAlta Corp. has a 1-year low of $2.54 and a 1-year high of $5.62. The stock’s 50 day moving average is $4.33 and its 200-day moving average is $4.70.

The business also recently announced a quarterly dividend, which will be paid on Sunday, January 1st. Investors of record on Thursday, December 1st will be given a $0.0301 dividend. The ex-dividend date is Tuesday, November 29th. This represents a $0.12 annualized dividend and a dividend yield of 2.27%. TransAlta Corp.’s dividend payout ratio is presently 85.72%.

Several large investors have recently added to or reduced their stakes in TAC. AXA acquired a new position in shares of TransAlta Corp. during the second quarter worth $112,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of TransAlta Corp. by 11.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,478 shares of the company’s stock worth $113,000 after buying an additional 2,528 shares during the period. Citadel Advisors LLC boosted its position in shares of TransAlta Corp. by 66.4% in the second quarter. Citadel Advisors LLC now owns 24,200 shares of the company’s stock worth $125,000 after buying an additional 9,658 shares during the period. AQR Capital Management LLC acquired a new position in shares of TransAlta Corp. during the second quarter worth $132,000. Finally, Stifel Financial Corp boosted its position in shares of TransAlta Corp. by 4.0% in the second quarter. Stifel Financial Corp now owns 26,300 shares of the company’s stock worth $137,000 after buying an additional 1,000 shares during the period. 40.92% of the stock is currently owned by institutional investors and hedge funds.

About TransAlta Corp.

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