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

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

A number of other research firms have also recently issued reports on TA. National Bankshares lifted their price target on TransAlta from C$14.00 to C$15.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. BMO Capital Markets boosted their target price on shares of TransAlta from C$16.00 to C$17.00 in a research note on Thursday, September 5th. Finally, CIBC decreased 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 research note on Monday, July 22nd. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, TransAlta presently has a consensus rating of “Buy” and a consensus price target of C$15.50.

TransAlta Price Performance

TSE:TA opened at C$14.05 on Tuesday. 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 firm has a market cap of C$4.19 billion, a PE ratio of 7.39, a price-to-earnings-growth ratio of -0.07 and a beta of 0.93. TransAlta has a 12 month low of C$8.22 and a 12 month high of C$14.65. The company’s 50-day moving average price is C$13.04 and its two-hundred day moving average price is C$10.88.

TransAlta (TSE:TA) (NYSE:TAC) last released its quarterly earnings results on Thursday, August 1st. The company reported C$0.18 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter.

TransAlta Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Sunday, December 1st will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Friday, November 29th. TransAlta’s dividend payout ratio (DPR) is presently 12.63%.

Insider Buying and Selling

In other TransAlta news, Senior Officer Kerry Lynn O’reilly sold 48,833 shares of the firm’s stock in a transaction that occurred 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. In related news, Senior Officer Kerry Lynn O’reilly sold 48,833 shares of the company’s stock in a transaction dated 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 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. Insiders sold a total of 120,217 shares of company stock valued at $1,397,220 over the last ninety days. 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.