TransAlta Co. (TA) Receives C$8.57 Average Price Target from Brokerages

TransAlta Co. (TSE:TA) (NYSE:TAC) has received a consensus recommendation of “Hold” from the seven ratings firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating and five have issued a hold rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is C$8.57.

A number of equities research analysts recently weighed in on the company. Scotiabank raised their price target on TransAlta from C$8.00 to C$9.00 and gave the company a “sector perform” rating in a report on Thursday, December 7th. CIBC raised their price target on TransAlta from C$8.25 to C$8.50 in a report on Thursday, December 7th. CSFB raised their price target on TransAlta from C$7.00 to C$8.00 and gave the company an “underperform” rating in a report on Thursday, December 7th. National Bank Financial raised their price target on TransAlta from C$9.00 to C$9.50 and gave the company a “sector perform” rating in a report on Thursday, December 7th. Finally, Royal Bank of Canada raised their price target on TransAlta from C$8.00 to C$9.00 and gave the company a “sector perform” rating in a report on Thursday, December 7th.

In other news, insider David Fuller acquired 9,832 shares of the firm’s stock in a transaction on Thursday, November 30th. The shares were purchased at an average cost of C$47.98 per share, for a total transaction of C$471,739.36. Also, insider John Harry Kousinioris acquired 10,300 shares of the firm’s stock in a transaction on Monday, December 11th. The stock was purchased at an average price of C$7.79 per share, for a total transaction of C$80,237.00. Insiders acquired a total of 38,932 shares of company stock worth $692,788 over the last quarter.

Shares of TransAlta (TSE:TA) traded down C$0.07 on Monday, hitting C$7.32. The stock had a trading volume of 284,300 shares, compared to its average volume of 455,808. TransAlta has a fifty-two week low of C$6.88 and a fifty-two week high of C$8.50. The firm has a market cap of $2,110.00, a PE ratio of 122.00 and a beta of 0.43.

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 1st. Shareholders of record on Friday, December 1st were given a $0.04 dividend. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $0.16 dividend on an annualized basis and a yield of 2.19%. TransAlta’s payout ratio is 266.67%.

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TransAlta Company Profile

TransAlta Corporation (TransAlta) is a non-regulated electricity generation and energy marketing company with an aggregate net ownership interest of approximately 8,720 megawatts of generating capacity. The Company is engaged in the production and sale of electric energy. It focuses on generating and marketing electricity in Canada, the United States and Western Australia through its diversified portfolio of facilities fuelled by coal, natural gas, diesel, hydro, wind and solar.

Analyst Recommendations for TransAlta (TSE:TA)

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