TransAlta (TSE:TA) Reaches New 1-Year High at $13.60

TransAlta Co. (TSE:TA) (NYSE:TAC)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$13.60 and last traded at C$13.60, with a volume of 105297 shares. The stock had previously closed at C$13.29.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. BMO Capital Markets upped their target price on shares of TransAlta from C$16.00 to C$17.00 in a research note on Thursday, September 5th. CIBC reduced their target price 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. Finally, National Bankshares boosted their price target on TransAlta from C$14.00 to C$15.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, TransAlta has an average rating of “Buy” and an average price target of C$15.43.

TransAlta Stock Performance

The firm has a market cap of C$4.01 billion, a P/E ratio of 6.99, a PEG ratio of -0.07 and a beta of 0.90. The company has a debt-to-equity ratio of 219.87, a current ratio of 0.84 and a quick ratio of 0.62. The stock’s 50 day moving average is C$11.37 and its two-hundred day moving average is C$10.03.

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 analysts’ consensus estimates of C$0.07 by C$0.11. The business had revenue of C$582.00 million during the quarter. TransAlta had a return on equity of 32.01% and a net margin of 19.50%. As a group, equities analysts predict that TransAlta Co. will post 0.4504537 EPS for the current year.

TransAlta Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Sunday, September 1st will be paid a $0.06 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.24 annualized dividend and a dividend yield of 1.78%. TransAlta’s dividend payout ratio is presently 12.63%.

Insider Buying and Selling

In other TransAlta news, Senior Officer Jane Nyla Fedoretz sold 41,378 shares of the business’s stock in a transaction on 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 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. Also, Senior Officer Jane Nyla Fedoretz sold 41,378 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of C$11.30, for a total value of C$467,571.40. Insiders sold 100,217 shares of company stock worth $1,118,820 in the last quarter. 0.21% of the stock is owned by corporate 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.