Analysts Set TransAlta Co. (TA) PT at $8.00

Shares of TransAlta Co. (TSE:TA) (NYSE:TAC) have earned a consensus rating of “Hold” from the six brokerages that are currently covering the company, MarketBeat reports. Five research analysts have rated the stock with a hold rating. The average 12-month price objective among analysts that have covered the stock in the last year is C$8.00.

TA has been the topic of a number of research analyst reports. National Bank Financial upped their price target on shares of TransAlta from C$8.50 to C$9.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 2nd. Scotiabank set a C$8.00 price target on shares of TransAlta and gave the company a “sector perform” rating in a research note on Friday, August 11th.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 1st will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 2.10%. The ex-dividend date is Thursday, November 30th.

In other TransAlta news, Director David Lawrence Mowat purchased 1,250 shares of the company’s stock in a transaction dated Thursday, August 24th. The stock was purchased at an average price of C$44.75 per share, with a total value of C$55,937.50.

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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.

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