TransAlta Co. (TSE:TA) Given Consensus Recommendation of “Buy” by Brokerages

Shares of TransAlta Co. (TSE:TA) (NYSE:TAC) have been assigned an average recommendation of “Buy” from the nine analysts that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is C$15.28.

Separately, CIBC raised their price target on shares of TransAlta from C$16.00 to C$16.50 and gave the stock an “outperform” rating in a report on Wednesday, June 12th.

Insider Activity

In other news, Senior Officer Blain Mitchell Van Melle sold 20,000 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of C$9.75, for a total transaction of C$194,958.00. 0.20% of the stock is currently owned by company insiders.

TransAlta Stock Up 1.1 %

Shares of TSE:TA opened at C$9.61 on Friday. The firm has a market cap of C$2.92 billion, a P/E ratio of 4.93, a P/E/G ratio of -0.07 and a beta of 0.87. TransAlta has a 12-month low of C$8.22 and a 12-month high of C$13.97. The business has a fifty day simple moving average of C$9.61 and a 200 day simple moving average of C$9.62. The company has a quick ratio of 0.62, a current ratio of 0.69 and a debt-to-equity ratio of 217.60.

TransAlta (TSE:TA) (NYSE:TAC) last issued its quarterly earnings data on Friday, May 3rd. The company reported C$0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.18 by C$0.54. The company had revenue of C$947.00 million during the quarter. TransAlta had a return on equity of 33.61% and a net margin of 19.39%. Analysts predict that TransAlta will post 0.8411458 earnings per share for the current year.

TransAlta Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Saturday, June 1st will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend is Friday, May 31st. TransAlta’s dividend payout ratio (DPR) is 12.31%.

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.