TransAlta Co. (TA) Given Average Recommendation of “Hold” by Brokerages
TransAlta Co. (TSE:TA) (NYSE:TAC) has been given a consensus recommendation of “Hold” by the six brokerages that are covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is C$8.00.
Several equities research analysts have weighed in on TA shares. BMO Capital Markets restated a “market perform” rating and issued a C$8.00 target price on shares of TransAlta in a research note on Tuesday, May 23rd. Scotiabank set a C$8.00 target price on shares of TransAlta and gave the company a “sector perform” rating in a research note on Friday, August 11th. Finally, National Bank Financial raised their target price on shares of TransAlta from C$8.50 to C$9.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 2nd.
Shares of TransAlta (TSE:TA) traded up 0.39% during trading on Friday, reaching $7.71. 123,786 shares of the company were exchanged. The company’s 50-day moving average is $7.91 and its 200 day moving average is $7.61. TransAlta has a 1-year low of $5.11 and a 1-year high of $8.38. The firm has a market capitalization of $2.22 billion and a PE ratio of 71.39.
The company also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 1st will be paid a $0.04 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $0.16 annualized dividend and a yield of 2.08%.
In related news, Director David Lawrence Mowat acquired 1,250 shares of the stock in a transaction dated Thursday, August 24th. The stock was acquired at an average cost of C$44.75 per share, for a total transaction of C$55,937.50. Also, insider Francois Gratton sold 555 shares of TransAlta stock in a transaction on Friday, June 16th. The stock was sold at an average price of C$45.69, for a total transaction of C$25,357.95.
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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.
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