TransAlta Co. (NYSE:TAC) (TSE:TA) has earned an average recommendation of “Hold” from the six analysts that are presently covering the company. One research analyst has rated the stock with a sell rating and four have issued a hold rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $7.00.

TAC has been the topic of several recent analyst reports. Zacks Investment Research upgraded TransAlta from a “hold” rating to a “strong-buy” rating and set a $6.50 target price on the stock in a report on Saturday, April 15th. National Bank Financial lowered TransAlta from an “outperform” rating to a “sector perform” rating in a report on Monday, February 13th. Finally, TheStreet lowered TransAlta from a “c” rating to a “d+” rating in a report on Friday, May 5th.

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Shares of TransAlta (NYSE:TAC) traded down 0.92% during midday trading on Monday, reaching $5.40. The company had a trading volume of 15,786 shares. The firm has a market cap of $1.55 billion, a P/E ratio of 38.57 and a beta of 0.74. TransAlta has a 52-week low of $3.75 and a 52-week high of $6.24. The company’s 50-day moving average is $5.37 and its 200-day moving average is $5.37.

The firm also recently announced a quarterly dividend, which will be paid on Saturday, July 1st. Shareholders of record on Thursday, June 1st will be issued a dividend of $0.03 per share. The ex-dividend date is Tuesday, May 30th. This represents a $0.12 annualized dividend and a yield of 2.20%. TransAlta’s dividend payout ratio is presently 85.72%.

A number of hedge funds and other institutional investors have recently bought and sold shares of TAC. TD Asset Management Inc. raised its position in TransAlta by 8.4% in the first quarter. TD Asset Management Inc. now owns 8,978,952 shares of the utilities provider’s stock valued at $52,649,000 after buying an additional 694,653 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of TransAlta by 4.1% in the first quarter. Vanguard Group Inc. now owns 5,557,096 shares of the utilities provider’s stock worth $32,509,000 after buying an additional 220,705 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of TransAlta by 6.5% in the first quarter. Canada Pension Plan Investment Board now owns 2,525,200 shares of the utilities provider’s stock worth $14,807,000 after buying an additional 153,800 shares during the period. Acadian Asset Management LLC raised its stake in shares of TransAlta by 326.7% in the first quarter. Acadian Asset Management LLC now owns 1,241,200 shares of the utilities provider’s stock worth $7,279,000 after buying an additional 950,300 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of TransAlta during the fourth quarter worth approximately $3,467,000. Hedge funds and other institutional investors own 41.65% of the company’s stock.

TransAlta Company Profile

TransAlta Corporation (TransAlta) is a non-regulated electricity generation and energy marketing company with an aggregate net ownership interest of approximately 8,720 megawatts of generating capacity. The Company is engaged in the production and sale of electric energy. It focuses on generating and marketing electricity in Canada, the United States and Western Australia through its diversified portfolio of facilities fuelled by coal, natural gas, diesel, hydro, wind and solar.

12 Month Chart for NYSE:TAC

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