TransAlta (TSE:TA) Price Target Raised to C$17.00 at BMO Capital Markets

TransAlta (TSE:TA) (NYSE:TAC) had its target price increased by BMO Capital Markets from C$16.00 to C$17.00 in a report released on Thursday morning, BayStreet.CA reports.

Other analysts have also issued reports about the company. National Bankshares boosted their price objective on TransAlta from C$14.00 to C$15.00 and gave the company an outperform rating in a research note on Friday, August 23rd. 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. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, TransAlta currently has a consensus rating of Buy and a consensus price target of C$15.43.

TransAlta Stock Up 0.3 %

Shares of TSE:TA opened at C$12.14 on Thursday. The stock has a market cap of C$3.62 billion, a price-to-earnings ratio of 6.39, a PEG ratio of -0.07 and a beta of 0.90. 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 has a 12-month low of C$8.22 and a 12-month high of C$13.24. The business’s 50 day moving average is C$10.77 and its 200 day moving average is C$9.80.

TransAlta (TSE:TA) (NYSE:TAC) last posted its quarterly earnings data 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 return on equity of 32.01% and a net margin of 19.50%. The business had revenue of C$582.00 million for the quarter. On average, sell-side analysts forecast that TransAlta will post 0.9761317 earnings per share for the current fiscal year.

TransAlta Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Sunday, September 1st will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Friday, August 30th. TransAlta’s payout ratio is 12.63%.

Insider Buying and Selling at TransAlta

In related news, Senior Officer Jane Nyla Fedoretz sold 10,000 shares of the firm’s 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 other 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 value of C$536,674.67. Also, Senior Officer Jane Nyla Fedoretz sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of C$11.45, for a total value of C$114,500.00. Insiders sold 130,211 shares of company stock valued at $1,410,404 in the last 90 days. 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.