TD Securities Forecasts Strong Price Appreciation for TransAlta (TSE:TA) Stock

TransAlta (TSE:TA) (NYSE:TAC) had its target price boosted by TD Securities from C$16.00 to C$18.00 in a research note released on Wednesday morning,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

A number of other research firms also recently commented on TA. National Bankshares increased their price objective 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. BMO Capital Markets increased their price target on TransAlta from C$16.00 to C$17.00 in a research report on Thursday, September 5th. Desjardins set a C$15.50 price target on TransAlta and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, CIBC cut their price objective on TransAlta from C$16.50 to C$15.50 and set an “outperform” rating for the company in a report on Monday, July 22nd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of C$16.17.

TransAlta Price Performance

TSE TA opened at C$14.35 on Wednesday. TransAlta has a 12-month low of C$8.22 and a 12-month high of C$15.37. The firm’s 50 day moving average is C$13.55 and its 200-day moving average is C$11.23. The company has a market capitalization of C$4.28 billion, a PE ratio of 7.55, a price-to-earnings-growth 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.

TransAlta Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Sunday, December 1st will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.67%. The ex-dividend date is Friday, November 29th. TransAlta’s payout ratio is presently 12.63%.

Insider Buying and Selling

In related news, Senior Officer Jane Nyla Fedoretz sold 10,000 shares of TransAlta stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of C$11.45, for a total transaction of C$114,500.00. In the last 90 days, insiders sold 30,006 shares of company stock valued at $392,973. Company insiders own 0.21% of the company’s stock.

About TransAlta

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.