TransAlta Corp. (NYSE:TAC) – Investment analysts at National Bank Financial issued their Q3 2016 earnings per share (EPS) estimates for TransAlta Corp. in a research note issued to investors on Wednesday. National Bank Financial analyst P. Kenny forecasts that the firm will post earnings of ($0.02) per share for the quarter.
Separately, Zacks Investment Research lowered TransAlta Corp. from a “buy” rating to a “hold” rating in a research report on Saturday, August 13th. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company. TransAlta Corp. has an average rating of “Hold” and a consensus target price of $6.19.
Shares of TransAlta Corp. (NYSE:TAC) opened at 4.57 on Monday. TransAlta Corp. has a 52 week low of $2.54 and a 52 week high of $5.62. The firm has a 50 day moving average price of $4.48 and a 200 day moving average price of $4.82. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 8.00 and a beta of 0.56.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, January 1st. Shareholders of record on Thursday, December 1st will be issued a $0.0301 dividend. The ex-dividend date is Tuesday, November 29th. This represents a $0.12 dividend on an annualized basis and a yield of 2.64%. TransAlta Corp.’s payout ratio is 20.34%.
Hedge funds have recently added to or reduced their stakes in the stock. UBS Group AG increased its stake in TransAlta Corp. by 15.3% in the first quarter. UBS Group AG now owns 545,089 shares of the company’s stock worth $2,534,000 after buying an additional 72,228 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new stake in shares of TransAlta Corp. during the second quarter worth about $489,000. Emerald Acquisition Ltd. purchased a new stake in shares of TransAlta Corp. during the second quarter worth about $2,797,000. Bank of Nova Scotia Trust Co. increased its stake in shares of TransAlta Corp. by 10.4% in the first quarter. Bank of Nova Scotia Trust Co. now owns 152,361 shares of the company’s stock worth $708,000 after buying an additional 14,390 shares in the last quarter. Finally, Swiss National Bank increased its stake in shares of TransAlta Corp. by 1.2% in the second quarter. Swiss National Bank now owns 480,000 shares of the company’s stock worth $2,484,000 after buying an additional 5,700 shares in the last quarter. Institutional investors own 41.90% of the company’s stock.
TransAlta Corp. Company Profile
TransAlta Corporation (TransAlta) is a non-regulated electricity generation and energy marketing company with an aggregate net ownership interest of approximately 8,730 megawatts of generating capacity. The Company is engaged in the production and sale of electric energy. TransAlta is organized into seven segments: Canadian Coal, U.S.
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