TransAlta Corp. (NYSE:TAC) Receives $6.50 Consensus Target Price from Brokerages
TransAlta Corp. (NYSE:TAC) has been given an average recommendation of “Hold” by the seven ratings firms that are covering the firm. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $6.50.
Separately, Zacks Investment Research lowered shares of TransAlta Corp. from a “buy” rating to a “hold” rating in a report on Saturday, August 13th.
TransAlta Corp. (NYSE:TAC) opened at 4.55 on Wednesday. The stock’s 50 day moving average is $4.56 and its 200 day moving average is $4.82. TransAlta Corp. has a one year low of $2.54 and a one year high of $5.62. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 7.80 and a beta of 0.53.
The company also recently declared a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Thursday, September 1st will be issued a $0.031 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend is Tuesday, August 30th. TransAlta Corp.’s dividend payout ratio (DPR) is presently 20.34%.
A number of large investors have recently made changes to their positions in TAC. AXA purchased a new stake in shares of TransAlta Corp. during the second quarter worth about $112,000. Citadel Advisors LLC raised its stake 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 worth $125,000 after buying an additional 9,658 shares during the period. AQR Capital Management LLC purchased a new stake in shares of TransAlta Corp. during the second quarter worth about $132,000. Stifel Financial Corp raised its stake 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 worth $137,000 after buying an additional 1,000 shares during the period. Finally, Shell Asset Management Co. raised its stake 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 worth $164,000 after buying an additional 4,800 shares during the period. 41.90% of the stock is currently owned by institutional investors and hedge funds.
TransAlta Corp. Company Profile
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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