TransAlta Corporation (NYSE:TAC – Get Free Report) (TSE:TA) has been assigned a consensus rating of “Moderate Buy” from the nine analysts that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $21.3333.
Several research analysts have weighed in on TAC shares. Weiss Ratings downgraded TransAlta from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, May 7th. Royal Bank Of Canada restated an “outperform” rating and issued a $24.00 price target on shares of TransAlta in a research note on Tuesday, March 24th. TD Securities restated a “buy” rating on shares of TransAlta in a research note on Thursday, May 7th. BMO Capital Markets restated an “outperform” rating on shares of TransAlta in a research note on Thursday, May 7th. Finally, National Bank Financial upgraded TransAlta from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, March 24th.
Get Our Latest Research Report on TransAlta
TransAlta Trading Up 0.5%
TransAlta (NYSE:TAC – Get Free Report) (TSE:TA) last posted its quarterly earnings results on Wednesday, May 6th. The utilities provider reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.03. TransAlta had a positive return on equity of 9.52% and a negative net margin of 9.46%.The business had revenue of $406.19 million during the quarter, compared to the consensus estimate of $436.36 million. Research analysts anticipate that TransAlta will post 0.26 EPS for the current fiscal year.
TransAlta Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a dividend of $0.07 per share. This is a positive change from TransAlta’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.28 annualized dividend and a dividend yield of 2.1%. TransAlta’s payout ratio is currently -35.19%.
Institutional Trading of TransAlta
Hedge funds have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new stake in shares of TransAlta during the 4th quarter worth approximately $37,000. EverSource Wealth Advisors LLC raised its holdings in shares of TransAlta by 37.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,000 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 812 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of TransAlta during the 4th quarter worth approximately $50,000. Warren Street Wealth Advisors LLC purchased a new stake in shares of TransAlta during the 4th quarter worth approximately $129,000. Finally, Sage Rhino Capital LLC purchased a new stake in shares of TransAlta during the 3rd quarter worth approximately $139,000. 59.00% of the stock is owned by hedge funds and other institutional investors.
About TransAlta
TransAlta Corporation, originally founded in 1909 as Calgary Power Company Ltd., is a publicly traded energy company specializing in the development, ownership and operation of power generation and transmission assets. Headquartered in Calgary, Alberta, TransAlta has grown from its early hydroelectric roots into a diversified energy provider with a multi-fuel generating fleet.
The company’s core business activities encompass power generation, asset management and energy trading services.
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