TransAlta Co. (NYSE:TAC) (TSE:TA) reached a new 52-week high during trading on Thursday . The company traded as high as $11.39 and last traded at $11.39, with a volume of 600 shares. The stock had previously closed at $11.15.
A number of research analysts have recently commented on the stock. Zacks Investment Research cut shares of TransAlta from a “buy” rating to a “hold” rating in a report on Wednesday. BMO Capital Markets upped their price target on shares of TransAlta from C$14.50 to C$15.50 and gave the stock an “outperform” rating in a report on Wednesday, August 11th. National Bank Financial upped their price target on shares of TransAlta from C$12.00 to C$13.00 and gave the stock a “sector perform” rating in a report on Thursday, August 12th. CIBC upped their price target on shares of TransAlta from C$15.00 to C$16.00 and gave the stock an “outperform” rating in a report on Wednesday, September 29th. Finally, TD Securities upped their price target on shares of TransAlta from C$15.00 to C$15.50 and gave the stock a “buy” rating in a report on Wednesday, August 11th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $14.81.
The stock’s 50 day moving average is $10.19 and its two-hundred day moving average is $9.88. The company has a market capitalization of $3.07 billion, a PE ratio of -11.61 and a beta of 1.26. The company has a quick ratio of 1.58, a current ratio of 1.77 and a debt-to-equity ratio of 1.30.
The company also recently declared a quarterly dividend, which will be paid on Saturday, January 1st. Shareholders of record on Wednesday, December 1st will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 1.41%. This is a positive change from TransAlta’s previous quarterly dividend of $0.04. The ex-dividend date is Tuesday, November 30th. TransAlta’s dividend payout ratio is presently -36.84%.
Institutional investors have recently made changes to their positions in the stock. Rubric Capital Management LP purchased a new position in shares of TransAlta in the 1st quarter valued at approximately $42,953,000. Scotia Capital Inc. increased its holdings in TransAlta by 1.3% in the 2nd quarter. Scotia Capital Inc. now owns 1,497,903 shares of the utilities provider’s stock worth $14,849,000 after buying an additional 19,906 shares during the period. BlackRock Inc. acquired a new position in TransAlta in the 1st quarter worth approximately $304,000. First Manhattan Co. increased its holdings in TransAlta by 87.6% in the 1st quarter. First Manhattan Co. now owns 560,950 shares of the utilities provider’s stock worth $5,306,000 after buying an additional 261,950 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new position in TransAlta in the 2nd quarter worth approximately $399,000. 60.28% of the stock is owned by hedge funds and other institutional investors.
TransAlta Company Profile (NYSE:TAC)
TransAlta Corp. engages in the generation and distribution of electricity through wind, hydro, gas and coal power plants. It operates through the following business segments: Canadian Coal, U.S. Coal, Canadian Gas, Australian Gas, Wind & Solar, Hydro, Energy Marketing and Corporate. The Canadian Coal, U.S.
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