As noted earlier, BMO Capital upgraded Transalta to Outperform from Market Perform. The firm thinks that the stock is pricing in a worst-case Alberta environmental regulatory decision, but failing to price in a likely corresponding rise in power prices. The firm does not think the company will cut its dividend. Target $9.50.

TransAlta Corporation announced that the combined 300 MW White Rock East and White Rock West wind facilities, located in Caddo County, Oklahoma, have achieved commercial operation. The White Rock wind facilities are fully contracted to Amazon Energy and are currently supplying clean and affordable electricity to our customer. TransAlta's portfolio in the US now totals 820 MW in net operating renewable energy capacity. "We are pleased to bring into service our first clean electricity project in Oklahoma, White Rock, which is our largest wind project completed to date. White Rock was made possible through our long-term customer relationship with Amazon and its commitment to power its operations with 100 per cent renewable energy. Amazon is a global leader in procurement of renewable energy to achieve sustainability and carbon reduction objectives, and we are excited to be a trusted supplier to provide clean and affordable electricity as part of Amazon's decarbonization pledge," said Mr. John Kousinioris, President and Chief Executive Officer of TransAlta.