The TransAlta Corporation (TAC) Given Consensus Rating of “Hold” by Brokerages

The TransAlta Corporation (TAC) Given Consensus Rating of “Hold” by Brokerages

TransAlta Corporation (NYSE:TAC) (TSE:TA) has received a consensus rating of “Hold” from the eight analysts that are currently covering the company. Two investment analysts have rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $6.67.

TAC has been the subject of several research reports. Zacks Investment Research upgraded shares of TransAlta Corporation from a “sell” rating to a “buy” rating and set a $6.25 price target for the company in a research report on Saturday, December 24th. BMO Capital Markets set a $8.00 price target on shares of TransAlta Corporation and gave the company a “hold” rating in a research report on Friday, November 25th. National Bank Financial upgraded shares of TransAlta Corporation from a “sector perform market weight” rating to an “outperform market weight” rating in a research report on Thursday, November 24th. RBC Capital Markets upgraded shares of TransAlta Corporation from an “underperform” rating to a “sector perform” rating and set a $6.00 price target for the company in a research report on Monday, November 7th. Finally, Scotiabank upgraded shares of TransAlta Corporation from an “underperform” rating to a “sector perform” rating in a research report on Monday, November 7th.

A number of institutional investors have recently modified their holdings of TAC. Canada Pension Plan Investment Board raised its position in shares of TransAlta Corporation by 20,444.0% in the third quarter. Canada Pension Plan Investment Board now owns 1,295,707 shares of the company’s stock worth $5,748,000 after buying an additional 1,289,400 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in shares of TransAlta Corporation during the fourth quarter worth $3,467,000. Russell Investments Group Ltd. acquired a new position in shares of TransAlta Corporation during the fourth quarter worth $3,192,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its position in shares of TransAlta Corporation by 341.4% in the third quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 320,900 shares of the company’s stock worth $1,871,000 after buying an additional 248,200 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of TransAlta Corporation by 37.2% in the fourth quarter. Renaissance Technologies LLC now owns 598,741 shares of the company’s stock worth $3,298,000 after buying an additional 162,400 shares in the last quarter. Hedge funds and other institutional investors own 41.65% of the company’s stock.

Shares of TransAlta Corporation (NYSE:TAC) traded down 1.776% on Wednesday, hitting $5.255. 18,223 shares of the stock were exchanged. TransAlta Corporation has a one year low of $3.75 and a one year high of $6.25. The company has a 50-day moving average price of $5.83 and a 200-day moving average price of $5.00. The firm has a market capitalization of $1.51 billion, a PE ratio of 40.423 and a beta of 0.74.

The firm also recently announced a quarterly dividend, which will be paid on Saturday, April 1st. Shareholders of record on Wednesday, March 1st will be given a dividend of $0.0301 per share. The ex-dividend date is Monday, February 27th. This represents a $0.12 dividend on an annualized basis and a yield of 2.25%. TransAlta Corporation’s dividend payout ratio is presently 85.72%.

About TransAlta Corporation

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.

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