TransAlta Co. (TA) Receives C$8.31 Average Price Target from Brokerages

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Shares of TransAlta Co. (TSE:TA) (NYSE:TAC) have been given a consensus recommendation of “Hold” by the eight brokerages that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is C$8.31.

Several research firms have recently weighed in on TA. CIBC increased their price objective on shares of TransAlta from C$8.00 to C$8.50 in a research report on Tuesday, August 7th. National Bank Financial increased their price objective on shares of TransAlta from C$8.00 to C$9.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 7th. BMO Capital Markets decreased their price objective on shares of TransAlta from C$8.00 to C$7.50 in a research report on Wednesday, May 9th. Finally, Canaccord Genuity set a C$7.00 price objective on shares of TransAlta and gave the stock a “hold” rating in a research report on Friday, May 4th.

In other TransAlta news, insider Douglas French acquired 2,187 shares of TransAlta stock in a transaction dated Friday, June 8th. The stock was purchased at an average cost of C$45.75 per share, for a total transaction of C$100,055.25.

Shares of TA traded up C$0.06 during trading hours on Tuesday, hitting C$7.66. 787,100 shares of the stock were exchanged, compared to its average volume of 580,562. TransAlta has a fifty-two week low of C$6.31 and a fifty-two week high of C$8.18.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Tuesday, September 4th will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date is Friday, August 31st.

About TransAlta

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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Analyst Recommendations for TransAlta (TSE:TA)

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