TransAlta (TSE:TA) Price Target Raised to C$16.00 at Desjardins

TransAlta (TSE:TA) (NYSE:TAC) had its price target raised by Desjardins from C$15.50 to C$16.00 in a research report sent to investors on Wednesday,BayStreet.CA reports. Desjardins currently has a hold rating on the stock.

Several other equities analysts also recently weighed in on TA. Royal Bank of Canada lifted their target price on TransAlta from C$14.00 to C$16.00 in a research report on Wednesday, November 6th. National Bankshares lifted their price target on shares of TransAlta from C$14.00 to C$15.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. TD Securities raised their price objective on shares of TransAlta from C$16.00 to C$18.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. BMO Capital Markets increased their price target on TransAlta from C$17.00 to C$22.00 in a research note on Monday. Finally, Scotiabank raised TransAlta to a “strong-buy” rating in a report on Thursday, December 5th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of C$17.08.

TransAlta Price Performance

TSE TA opened at C$20.16 on Wednesday. TransAlta has a 52 week low of C$8.22 and a 52 week high of C$20.98. The firm has a market capitalization of C$6.01 billion, a P/E ratio of 10.61, a PEG ratio of -0.07 and a beta of 0.93. 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 company has a 50-day moving average price of C$15.48 and a 200-day moving average price of C$12.55.

TransAlta Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Sunday, December 1st will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.19%. The ex-dividend date is Friday, November 29th. TransAlta’s payout ratio is currently 12.63%.

Insider Activity

In related news, Senior Officer Jane Nyla Fedoretz sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of C$19.41, for a total value of C$194,100.00. Also, Director John Harry Kousinioris sold 45,000 shares of the firm’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of C$17.67, for a total value of C$795,150.00. Over the last 90 days, insiders have sold 189,584 shares of company stock valued at $3,027,809. 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.