Today, TransAlta Corp. (TAC) Rating Increased to Sector Perform at RBC Capital Markets

Today, TransAlta Corp. (TAC) Rating Increased to Sector Perform at RBC Capital Markets

TransAlta Corp. (NYSE:TAC) (TSE:TA) was upgraded by investment analysts at RBC Capital Markets from an “underperform” rating to a “sector perform” rating in a note issued to investors on Monday. The brokerage currently has a $6.00 price objective on the stock. RBC Capital Markets’ target price would suggest a potential upside of 13.21% from the stock’s current price.

TAC has been the subject of several other research reports. Scotiabank raised TransAlta Corp. from an “underperform” rating to a “sector perform” rating in a research note on Monday, November 7th. Zacks Investment Research cut TransAlta Corp. from a “buy” rating to a “hold” rating in a research note on Saturday, August 13th. Finally, Royal Bank Of Canada raised TransAlta Corp. from an “underperform” rating to a “sector perform” rating and set a $6.00 price target for the company in a research note on Monday, November 7th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $6.31.

TransAlta Corp. (NYSE:TAC) traded up 24.71% during mid-day trading on Monday, reaching $5.30. 330,513 shares of the company were exchanged. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of 41.73 and a beta of 0.59. The stock has a 50 day moving average of $4.33 and a 200-day moving average of $4.70. TransAlta Corp. has a one year low of $2.54 and a one year high of $5.62.

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 issued a $0.0301 dividend. The ex-dividend date is Tuesday, November 29th. This represents a $0.12 annualized dividend and a yield of 2.27%. TransAlta Corp.’s dividend payout ratio (DPR) is currently 85.72%.

A number of large investors have recently bought and sold shares of TAC. AXA bought a new stake in TransAlta Corp. during the second quarter valued at $112,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in 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 during the period. Citadel Advisors LLC raised its stake in 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 during the period. AQR Capital Management LLC bought a new stake in TransAlta Corp. during the second quarter valued at $132,000. Finally, Stifel Financial Corp raised its stake in 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 during the period. Hedge funds and other institutional investors own 40.92% of the company’s stock.

About TransAlta Corp.

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