TransAlta Co. to Issue Quarterly Dividend of $0.06 (TSE:TA)

TransAlta Co. (TSE:TA) (NYSE:TAC) declared a quarterly dividend on Wednesday, October 23rd, Zacks reports. Stockholders of record on Sunday, December 1st will be paid a dividend of 0.06 per share on Wednesday, January 1st. This represents a $0.24 annualized dividend and a dividend yield of 1.70%. The ex-dividend date is Friday, November 29th.

TransAlta Price Performance

Shares of TA stock opened at C$14.08 on Friday. TransAlta has a twelve month low of C$8.22 and a twelve month high of C$14.65. The company has a quick ratio of 0.62, a current ratio of 0.84 and a debt-to-equity ratio of 219.87. The business has a fifty day simple moving average of C$12.98 and a 200 day simple moving average of C$10.84. The company has a market cap of C$4.20 billion, a P/E ratio of 7.41, a P/E/G ratio of -0.07 and a beta of 0.93.

TransAlta (TSE:TA) (NYSE:TAC) last announced its quarterly earnings results on Thursday, August 1st. The company reported C$0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.07 by C$0.11. TransAlta had a net margin of 19.50% and a return on equity of 32.01%. The company had revenue of C$582.00 million during the quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TA. CIBC cut their price target on shares of TransAlta from C$16.50 to C$15.50 and set an “outperform” rating on the stock in a report on Monday, July 22nd. BMO Capital Markets increased their target price on shares of TransAlta from C$16.00 to C$17.00 in a research report on Thursday, September 5th. Finally, National Bankshares lifted their target price on shares of TransAlta from C$14.00 to C$15.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of C$15.17.

Insider Transactions at TransAlta

In other news, Senior Officer Jane Nyla Fedoretz sold 10,000 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of C$11.45, for a total value of C$114,500.00. In related news, Senior Officer Jane Nyla Fedoretz sold 10,000 shares of TransAlta stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of C$11.45, for a total value of C$114,500.00. Also, Senior Officer Kerry Lynn O’reilly sold 48,833 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of C$10.99, for a total value of C$536,674.67. Insiders sold a total of 120,217 shares of company stock valued at $1,397,220 over the last ninety days. 0.21% of the stock is currently owned by insiders.

TransAlta Company Profile

TransAlta Corporation engages in the development, production, and sale of electric energy. It operates through Hydro, Wind and Solar, Gas, Energy Transition, and Energy Marketing segments. The Hydro segment holds interest of approximately 922 megawatts (MW) of owned hydroelectric generating capacity located in Alberta, British Columbia, and Ontario.