Brokers Set Expectations for TransAlta Corp.’s Q3 2016 Earnings (TAC)
TransAlta Corp. (NYSE:TAC) – Investment analysts at National Bank Financial issued their Q3 2016 EPS estimates for TransAlta Corp. in a research note issued to investors on Wednesday. National Bank Financial analyst P. Kenny forecasts that the brokerage will earn ($0.02) per share for the quarter.
Separately, Zacks Investment Research downgraded TransAlta Corp. from a “hold” rating to a “sell” rating in a research report on Friday, July 22nd. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $6.19.
Shares of TransAlta Corp. (NYSE:TAC) opened at 4.48 on Monday. The company’s 50-day moving average price is $4.48 and its 200-day moving average price is $4.82. TransAlta Corp. has a 12 month low of $2.54 and a 12 month high of $5.62. The company has a market cap of $1.29 billion, a P/E ratio of 7.85 and a beta of 0.56.
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Several large investors have recently bought and sold shares of TAC. AXA purchased a new stake in TransAlta Corp. during the second quarter valued at about $112,000. Citadel Advisors LLC increased 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 in the last quarter. Shell Asset Management Co. increased its stake in TransAlta Corp. by 24.5% in the second quarter. Shell Asset Management Co. now owns 24,400 shares of the company’s stock valued at $164,000 after buying an additional 4,800 shares in the last quarter. AQR Capital Management LLC purchased a new stake in TransAlta Corp. during the second quarter valued at about $132,000. Finally, Stifel Financial Corp increased 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 in the last quarter. Hedge funds and other institutional investors own 41.90% of the company’s stock.
The company also recently disclosed a quarterly dividend, which was paid on Saturday, October 1st. Investors of record on Thursday, September 1st were issued a $0.031 dividend. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $0.12 annualized dividend and a dividend yield of 2.77%. TransAlta Corp.’s dividend payout ratio is presently 20.34%.
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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