TransAlta Corp. (NYSE:TAC) (TSE:TA) was upgraded by stock analysts at Scotiabank from an “underperform” rating to a “sector perform” rating in a research note issued on Monday, The Fly reports.
Several other analysts have also issued reports on TAC. Zacks Investment Research lowered shares of TransAlta Corp. from a “hold” rating to a “sell” rating in a research report on Friday, July 22nd. Royal Bank Of Canada upgraded shares of TransAlta Corp. from an “underperform” rating to a “sector perform” rating and set a $6.00 price target on the stock in a research report on Monday, November 7th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. TransAlta Corp. presently has an average rating of “Hold” and a consensus price target of $6.31.
TransAlta Corp. (NYSE:TAC) opened at 5.30 on Monday. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of 41.73 and a beta of 0.59. TransAlta Corp. has a one year low of $2.54 and a one year high of $5.62. The stock has a 50 day moving average of $4.33 and a 200 day moving average of $4.70.
The business also recently announced a quarterly dividend, which will be paid on Sunday, January 1st. Shareholders 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 dividend on an annualized basis and a yield of 2.27%. TransAlta Corp.’s dividend payout ratio is currently 85.72%.
Hedge funds have recently modified their holdings of the stock. UBS Group AG raised its position in shares of TransAlta Corp. by 15.3% in the first quarter. UBS Group AG now owns 545,089 shares of the company’s stock worth $2,534,000 after buying an additional 72,228 shares during the period. Emerald Acquisition Ltd. acquired a new position in shares of TransAlta Corp. during the second quarter worth approximately $2,797,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new position in shares of TransAlta Corp. during the second quarter worth approximately $489,000. CIBC World Markets Inc. raised its position in shares of TransAlta Corp. by 1.8% in the third quarter. CIBC World Markets Inc. now owns 917,463 shares of the company’s stock worth $4,083,000 after buying an additional 16,215 shares during the period. Finally, Swiss National Bank raised 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 worth $2,484,000 after buying an additional 5,700 shares during the period. Hedge funds and other institutional investors own 40.92% of the company’s stock.
About TransAlta Corp.
TransAlta Corporation (TransAlta) is a non-regulated electricity generation and energy marketing company with an aggregate net ownership interest of approximately 8,730 megawatts of generating capacity. The Company is engaged in the production and sale of electric energy. TransAlta is organized into seven segments: Canadian Coal, U.S.