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

TransAlta (TSE:TA) (NYSE:TAC) had its target price hoisted by Desjardins from C$15.50 to C$16.00 in a research note published on Wednesday morning,BayStreet.CA reports. They currently have a hold rating on the stock.

Several other research analysts also recently commented on the company. National Bankshares increased their target price on shares of TransAlta from C$14.00 to C$15.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. TD Securities raised their target price on shares of TransAlta from C$16.00 to C$18.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Royal Bank of Canada upped their price target on shares of TransAlta from C$14.00 to C$16.00 in a report on Wednesday, November 6th. Scotiabank upgraded TransAlta to a “strong-buy” rating in a research report on Thursday, December 5th. Finally, BMO Capital Markets lifted their price target on TransAlta from C$17.00 to C$22.00 in a research note on Monday. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of C$17.08.

TransAlta Stock Performance

TSE:TA opened at C$20.16 on Wednesday. The company has a debt-to-equity ratio of 219.87, a quick ratio of 0.62 and a current ratio of 0.84. TransAlta has a fifty-two week low of C$8.22 and a fifty-two week high of C$20.98. The company has a market cap of C$6.01 billion, a price-to-earnings ratio of 10.61, a PEG ratio of -0.07 and a beta of 0.93. The stock has a fifty day moving average price of C$15.48 and a 200-day moving average price of C$12.55.

TransAlta Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Sunday, December 1st will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend is Friday, November 29th. TransAlta’s dividend payout ratio is currently 12.63%.

Insider Buying and Selling at TransAlta

In other TransAlta news, Senior Officer Jane Nyla Fedoretz sold 25,000 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of C$15.11, for a total value of C$377,750.00. Also, Director John Harry Kousinioris sold 69,982 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of C$15.15, for a total value of C$1,060,227.30. Over the last ninety days, insiders sold 189,584 shares of company stock valued at $3,027,809. Company 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.