Todays Report: Today: TransAlta Corp. (TAC) Given a $8.00 Price Target by BMO Capital Markets Analysts

Today: TransAlta Corp. (TAC) Given a $8.00 Price Target by BMO Capital Markets Analysts

BMO Capital Markets set a $8.00 price objective on TransAlta Corp. (NYSE:TAC) (TSE:TA) in a report published on Friday. The firm currently has a hold rating on the stock.

A number of other research analysts have also recently issued reports on the company. Zacks Investment Research raised TransAlta Corp. from a sell rating to a hold rating in a research note on Wednesday, August 3rd. Royal Bank Of Canada raised TransAlta Corp. from an underperform rating to a sector perform rating and set a $6.00 price objective on the stock in a research note on Monday, November 7th. Scotiabank raised TransAlta Corp. from an underperform rating to a sector perform rating in a research note on Monday, November 7th. Finally, RBC Capital Markets raised TransAlta Corp. from an underperform rating to a sector perform rating and set a $6.00 price objective on the stock in a research note on Monday, November 7th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. The company presently has an average rating of Hold and an average price target of $6.31.

Shares of TransAlta Corp. (NYSE:TAC) opened at 5.30 on Friday. The stock’s 50 day moving average price is $4.33 and its 200 day moving average price is $4.70. TransAlta Corp. has a one year low of $2.54 and a one year high of $5.62. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of 41.73 and a beta of 0.59.

The company also recently announced a quarterly dividend, which will be paid on Sunday, January 1st. Stockholders of record on Thursday, December 1st will be issued a dividend of $0.0301 per share. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.27%. TransAlta Corp.’s dividend payout ratio is currently 85.72%.

Several hedge funds have recently bought and sold shares of TAC. Spark Investment Management LLC raised its stake in shares of TransAlta Corp. by 62.8% in the second quarter. Spark Investment Management LLC now owns 190,480 shares of the company’s stock valued at $990,000 after buying an additional 73,480 shares during the period. Credit Suisse AG raised its stake in shares of TransAlta Corp. by 323.7% in the second quarter. Credit Suisse AG now owns 2,528,347 shares of the company’s stock valued at $13,198,000 after buying an additional 1,931,685 shares during the period. Scotia Capital Inc. raised its stake in shares of TransAlta Corp. by 10.3% in the second quarter. Scotia Capital Inc. now owns 1,077,017 shares of the company’s stock valued at $5,602,000 after buying an additional 100,134 shares during the period. AXA bought a new stake in shares of TransAlta Corp. during the second quarter valued at approximately $112,000. Finally, Vanguard Group Inc. raised its stake in shares of TransAlta Corp. by 14.4% in the second quarter. Vanguard Group Inc. now owns 4,965,764 shares of the company’s stock valued at $25,922,000 after buying an additional 623,815 shares during the period. Institutional investors own 41.87% of the company’s stock.

TransAlta Corp. Company Profile

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