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

TransAlta (TSE:TA) (NYSE:TAC) had its price objective boosted by TD Securities from C$14.00 to C$16.00 in a report issued on Tuesday morning, BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

A number of other equities research analysts have also recently issued reports on TA. CIBC cut their price objective on shares of TransAlta from C$16.50 to C$15.50 and set an “outperform” rating for the company in a research note on Monday, July 22nd. National Bankshares boosted their price target 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. Finally, BMO Capital Markets raised their price objective on TransAlta from C$16.00 to C$17.00 in a research note on Thursday, September 5th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of C$15.50.

TransAlta Price Performance

TA opened at C$14.36 on Tuesday. The company has a current ratio of 0.84, a quick ratio of 0.62 and a debt-to-equity ratio of 219.87. The stock has a market capitalization of C$4.28 billion, a P/E ratio of 7.56, a PEG ratio of -0.07 and a beta of 0.93. The stock has a 50-day moving average price of C$13.26 and a 200-day moving average price of C$11.01. TransAlta has a 12-month low of C$8.22 and a 12-month high of C$14.75.

TransAlta (TSE:TA) (NYSE:TAC) last issued its 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 return on equity of 32.01% and a net margin of 19.50%. The business had revenue of C$582.00 million during the quarter.

TransAlta Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Sunday, December 1st will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.24 dividend on an annualized basis and a yield of 1.67%. TransAlta’s dividend payout ratio is currently 12.63%.

Insider Buying and Selling at TransAlta

In related news, Senior Officer Jane Nyla Fedoretz sold 41,378 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of C$11.30, for a total value of C$467,571.40. In other TransAlta news, Senior Officer Kerry Lynn O’reilly sold 48,833 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of C$10.99, for a total value of C$536,674.67. Also, Senior Officer Jane Nyla Fedoretz sold 41,378 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of C$11.30, for a total transaction of C$467,571.40. Insiders sold 120,217 shares of company stock valued at $1,397,220 in the last quarter. Company insiders own 0.21% of the company’s stock.

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.