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

TransAlta (TSE:TA) (NYSE:TAC) had its target price hoisted by Desjardins from C$15.50 to C$16.00 in a report released on Wednesday,BayStreet.CA reports. The firm currently has a hold rating on the stock.

A number of other research firms have also recently weighed in on TA. TD Securities increased their price objective on shares of TransAlta from C$16.00 to C$18.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Scotiabank upgraded TransAlta to a “strong-buy” rating in a report on Thursday, December 5th. 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. BMO Capital Markets increased their price target on shares of TransAlta from C$17.00 to C$22.00 in a research report on Monday, December 16th. Finally, Royal Bank of Canada upped their target price on shares of TransAlta from C$14.00 to C$16.00 in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of C$17.08.

TransAlta Stock Performance

Shares of TransAlta stock opened at C$19.89 on Wednesday. The business’s fifty day simple moving average is C$15.70 and its 200-day simple moving average is C$12.67. 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$5.93 billion, a PE ratio of 10.47, a price-to-earnings-growth ratio of -0.07 and a beta of 0.93. TransAlta has a 52 week low of C$8.22 and a 52 week high of C$20.98.

TransAlta Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Sunday, December 1st will be given a dividend of $0.06 per share. The ex-dividend date is Friday, November 29th. This represents a $0.24 dividend on an annualized basis and a yield of 1.21%. TransAlta’s payout ratio is 12.63%.

Insider Buying and Selling

In related news, Senior Officer Jane Nyla Fedoretz sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of C$15.11, for a total value of C$377,750.00. Also, Director John Harry Kousinioris sold 35,179 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of C$20.73, for a total value of C$729,260.67. Insiders sold a total of 224,763 shares of company stock valued at $3,757,070 over the last three months. 0.21% of the stock is currently owned by company insiders.

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.