Todays Report: Today, Brokerages Set TransAlta Corp. (TAC) PT at $5.67

Today, Brokerages Set TransAlta Corp. (TAC) PT at $5.67

Shares of TransAlta Corp. (NYSE:TAC) (TSE:TA) have earned a consensus recommendation of “Hold” from the seven brokerages that are presently covering the company. One research analyst has rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $6.67.

Several analysts have commented on the stock. BMO Capital Markets set a $8.00 target price on shares of TransAlta Corp. and gave the stock a “hold” rating in a report on Friday. RBC Capital Markets upgraded 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 report on Monday, November 7th. Zacks Investment Research upgraded shares of TransAlta Corp. from a “hold” rating to a “buy” rating and set a $5.25 target price on the stock in a report on Friday, August 12th. Royal Bank Of Canada upgraded 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 report on Monday, November 7th. Finally, Scotiabank upgraded shares of TransAlta Corp. from an “underperform” rating to a “sector perform” rating in a report on Monday, November 7th.

Shares of TransAlta Corp. (NYSE:TAC) opened at 5.30 on Wednesday. The stock has a 50 day moving average of $4.33 and a 200-day moving average of $4.70. The firm has a market capitalization of $1.53 billion, a PE ratio of 41.73 and a beta of 0.59. TransAlta Corp. has a 52 week low of $2.54 and a 52 week high of $5.62.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, January 1st. Stockholders of record on Thursday, December 1st will be paid a dividend of $0.0301 per share. The ex-dividend date of this dividend 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 currently 85.72%.

Institutional investors have recently modified their holdings of the company. 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 valued at $137,000 after buying an additional 1,000 shares in the last quarter. 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 valued at $113,000 after buying an additional 2,528 shares in the last quarter. Shell Asset Management Co. boosted its position in shares of TransAlta Corp. by 24.5% in the second quarter. Shell Asset Management Co. now owns 24,400 shares of the company’s stock valued at $164,000 after buying an additional 4,800 shares in the last quarter. Swiss National Bank boosted its position in shares of TransAlta Corp. by 1.2% in the second quarter. Swiss National Bank now owns 480,000 shares of the company’s stock valued at $2,484,000 after buying an additional 5,700 shares in the last quarter. Finally, 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 valued at $125,000 after buying an additional 9,658 shares in the last quarter. 40.92% of the stock is owned by institutional investors.

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