TransAlta Co. (TSE:TA) Given Average Rating of “Buy” by Brokerages

TransAlta Co. (TSE:TA) (NYSE:TAC) has received an average rating of “Buy” from the six ratings firms that are presently covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy rating. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is C$15.43.

Several research analysts have commented on the stock. CIBC dropped their price objective 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. National Bankshares lifted 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. Finally, BMO Capital Markets increased their price objective on shares of TransAlta from C$16.00 to C$17.00 in a research report on Thursday, September 5th.

Insiders Place Their Bets

In other TransAlta news, Senior Officer Kerry Lynn O’reilly sold 48,833 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of C$10.99, for a total transaction 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 shares were 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 20,000 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of C$13.92, for a total transaction of C$278,400.00. Insiders have sold 120,217 shares of company stock worth $1,397,220 in the last three months. Corporate insiders own 0.21% of the company’s stock.

TransAlta Stock Performance

Shares of TSE TA opened at C$14.11 on Friday. TransAlta has a 52-week low of C$8.22 and a 52-week high of C$14.60. The company has a debt-to-equity ratio of 219.87, a quick ratio of 0.62 and a current ratio of 0.84. The firm’s fifty day moving average is C$12.43 and its two-hundred day moving average is C$10.49. The company has a market cap of C$4.21 billion, a P/E ratio of 7.43, a P/E/G ratio of -0.07 and a beta of 0.93.

TransAlta (TSE:TA) (NYSE:TAC) last announced its quarterly earnings results on Thursday, August 1st. The company reported C$0.18 earnings per share for the quarter, topping the consensus estimate of C$0.07 by C$0.11. TransAlta had a net margin of 19.50% and a return on equity of 32.01%. The company had revenue of C$582.00 million for the quarter.

TransAlta Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Sunday, September 1st were given a $0.06 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.24 annualized dividend and a yield of 1.70%. TransAlta’s dividend payout ratio (DPR) is 12.63%.

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.