TransAlta Co. (TA) Given Consensus Rating of “Hold” by Analysts
TransAlta Co. (TSE:TA) (NYSE:TAC) has earned an average rating of “Hold” from the eight research firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is C$8.13.
A number of research analysts have recently issued reports on the stock. Canaccord Genuity set a C$7.00 price objective on shares of TransAlta and gave the company a “hold” rating in a report on Friday, May 4th. BMO Capital Markets reduced their price objective on shares of TransAlta from C$8.00 to C$7.50 in a report on Wednesday, May 9th. CIBC reduced their price objective on shares of TransAlta from C$8.50 to C$8.00 in a report on Wednesday, May 9th. GMP Securities lifted their price objective on shares of TransAlta from C$8.25 to C$8.50 in a report on Monday, March 5th. Finally, Scotiabank set a C$9.00 price objective on shares of TransAlta and gave the company an “outperform” rating in a report on Tuesday, March 6th.
TSE:TA traded down C$0.08 during trading hours on Monday, reaching C$6.51. The company had a trading volume of 103,010 shares, compared to its average volume of 485,942. TransAlta has a twelve month low of C$6.31 and a twelve month high of C$8.50.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 3rd. Investors of record on Friday, June 1st will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend is Thursday, May 31st.
In related news, insider Douglas French acquired 2,187 shares of the stock in a transaction on Friday, June 8th. The shares were acquired at an average price of C$45.75 per share, with a total value of C$100,055.25.
TransAlta Corporation operates as non-regulated electricity generation and energy marketing company in Canada, the United States, and Western Australia. The company operates through eight segments: Canadian Coal, U.S. Coal, Canadian Gas, Australian Gas, Wind and Solar, Hydro, Energy Marketing, and Corporate.
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