TransAlta (TSE:TA) Price Target Raised to C$16.50

TransAlta (TSE:TA) (NYSE:TAC) had its price target raised by CIBC from C$16.00 to C$16.50 in a research note released on Wednesday, BayStreet.CA reports. They currently have an outperform rating on the stock.

Other research analysts also recently issued research reports about the stock. BMO Capital Markets dropped their price target on shares of TransAlta from C$17.00 to C$16.00 and set an outperform rating on the stock in a research report on Monday, February 26th. Royal Bank of Canada dropped their price target on shares of TransAlta from C$15.00 to C$14.00 and set an outperform rating on the stock in a research report on Monday, February 26th. Finally, TD Securities dropped their price target on shares of TransAlta from C$15.00 to C$14.00 and set a buy rating on the stock in a research report on Monday, February 26th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Buy and an average price target of C$15.28.

TransAlta Trading Down 0.2 %

Shares of TransAlta stock opened at C$9.54 on Wednesday. The firm has a market capitalization of C$2.90 billion, a PE ratio of 4.89, a price-to-earnings-growth ratio of -0.07 and a beta of 0.87. The company has a current ratio of 0.69, a quick ratio of 0.62 and a debt-to-equity ratio of 217.60. The firm’s 50 day moving average is C$9.40 and its 200 day moving average is C$9.71. TransAlta has a 1 year low of C$8.22 and a 1 year high of C$13.97.

TransAlta (TSE:TA) (NYSE:TAC) last posted its earnings results on Friday, May 3rd. The company reported C$0.72 EPS for the quarter, topping the consensus estimate of C$0.18 by C$0.54. TransAlta had a net margin of 19.39% and a return on equity of 33.61%. The business had revenue of C$947.00 million for the quarter. Equities research analysts forecast that TransAlta will post 0.8411458 earnings per share for the current fiscal year.

TransAlta Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Saturday, June 1st will be paid a dividend of $0.06 per share. The ex-dividend date is Friday, May 31st. This represents a $0.24 dividend on an annualized basis and a yield of 2.52%. TransAlta’s dividend payout ratio (DPR) is presently 12.31%.

Insider Transactions at TransAlta

In other news, Senior Officer Blain Mitchell Van Melle sold 20,000 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of C$9.75, for a total value of C$194,958.00. Company insiders own 0.20% 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.