Shares of TransAlta Co. (TSE:TA) (NYSE:TAC) have been given an average rating of “Hold” by the eight ratings firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is C$8.31.
Several equities research analysts recently issued reports on the company. National Bank Financial lifted their price objective on TransAlta from C$8.00 to C$9.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 7th. CIBC lifted their price objective on TransAlta from C$8.00 to C$8.50 in a report on Tuesday, August 7th.
Shares of TSE:TA traded up C$0.01 during trading on Friday, reaching C$7.44. 617,200 shares of the company’s stock traded hands, compared to its average volume of 575,656. TransAlta has a fifty-two week low of C$6.31 and a fifty-two week high of C$8.18.
TransAlta (TSE:TA) (NYSE:TAC) last posted its earnings results on Friday, August 3rd. The company reported C($0.32) EPS for the quarter, missing the Zacks’ consensus estimate of C$0.04 by C($0.36). TransAlta had a negative net margin of 6.46% and a negative return on equity of 4.34%. The business had revenue of C$446.00 million for the quarter, compared to analyst estimates of C$538.76 million.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Tuesday, September 4th will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend is Friday, August 31st.
In other news, insider Douglas French acquired 1,000 shares of the stock in a transaction that occurred on Monday, August 20th. The shares were bought at an average cost of C$48.51 per share, for a total transaction of C$48,510.00.
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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