TransAlta (NYSE:TAC) Hits New 52-Week High at $11.39

Shares of TransAlta Co. (NYSE:TAC) (TSE:TA) hit a new 52-week high during trading on Thursday . The company traded as high as $11.39 and last traded at $11.39, with a volume of 600 shares trading hands. The stock had previously closed at $11.15.

A number of analysts recently commented on TAC shares. TD Securities upped their price target on shares of TransAlta from C$15.00 to C$15.50 and gave the company a “buy” rating in a research note on Wednesday, August 11th. National Bank Financial increased their target price on shares of TransAlta from C$12.00 to C$13.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 12th. Zacks Investment Research cut shares of TransAlta from a “buy” rating to a “hold” rating in a research note on Wednesday. CIBC increased their target price on shares of TransAlta from C$15.00 to C$16.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 29th. Finally, BMO Capital Markets increased their target price on shares of TransAlta from C$14.50 to C$15.50 and gave the stock an “outperform” rating in a research note on Wednesday, August 11th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $14.81.

The firm has a market cap of $3.07 billion, a P/E ratio of -11.61 and a beta of 1.26. The company has a current ratio of 1.77, a quick ratio of 1.58 and a debt-to-equity ratio of 1.30. The business’s fifty day simple moving average is $10.19 and its 200-day simple moving average is $9.88.

TransAlta (NYSE:TAC) (TSE:TA) last announced its quarterly earnings results on Monday, August 9th. The utilities provider reported $0.05 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.05. TransAlta had a negative net margin of 12.87% and a negative return on equity of 5.48%. The business had revenue of $503.91 million for the quarter. Analysts anticipate that TransAlta Co. will post 0.26 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Saturday, January 1st. Stockholders of record on Wednesday, December 1st will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 1.41%. This is a boost from TransAlta’s previous quarterly dividend of $0.04. The ex-dividend date is Tuesday, November 30th. TransAlta’s dividend payout ratio (DPR) is currently -36.84%.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Jane Street Group LLC purchased a new position in TransAlta during the 1st quarter valued at about $96,000. Boothbay Fund Management LLC bought a new stake in TransAlta during the 2nd quarter valued at about $104,000. Paloma Partners Management Co bought a new stake in TransAlta during the 2nd quarter valued at about $177,000. Parametric Portfolio Associates LLC increased its stake in TransAlta by 37.3% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 22,485 shares of the utilities provider’s stock valued at $224,000 after purchasing an additional 6,105 shares in the last quarter. Finally, Versor Investments LP bought a new stake in TransAlta during the 2nd quarter valued at about $279,000. 60.28% of the stock is owned by institutional investors.

TransAlta Company Profile (NYSE:TAC)

TransAlta Corp. engages in the generation and distribution of electricity through wind, hydro, gas and coal power plants. It operates through the following business segments: Canadian Coal, U.S. Coal, Canadian Gas, Australian Gas, Wind & Solar, Hydro, Energy Marketing and Corporate. The Canadian Coal, U.S.

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