Once in a while the market serves up an opportunity for savvy investors to buy a solid dividend stock at a very attractive price. Here are the reasons why I think contrarian investors should consider TransAlta Corporation (TSX:TA) (NYSE:TAC) right now.
Colleen De Neve/Calgary Herald/Postmedia News filesTransAlta has cut its quarterly dividend by more than a third to save money as it transitions toward gas and renewable power generation and away from coal.
Handout/TransAltaTransAlta's Sundance power plant. The Alberta Utilities Commission says TransAlta deliberately timed outages at power plants in Alberta at peak times in order to drive up electricity prices.
Specifically, that seems to be what's happening with TransAlta Corporation (TSX:TA)(NYSE:TAC) right now. The market is not a fan of the company's coal-fired power plants, especially in this world of low natural gas prices.
TransAlta Corporation (TSX:TA)(NYSE:TAC), one of the largest power generators and wholesale marketers of electricity in North America and Australia, announced second-quarter earnings results before the market opened on July 29, and its stock has ...