TransAlta Co. (TSE:TA) Receives C$15.50 Average Price Target from Analysts

Shares of TransAlta Co. (TSE:TA) (NYSE:TAC) have been assigned a consensus rating of “Buy” from the five brokerages that are currently covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokers that have covered the stock in the last year is C$16.17.

Several brokerages have recently weighed in on TA. Royal Bank of Canada increased their target price on shares of TransAlta from C$14.00 to C$16.00 in a research note on Wednesday. TD Securities increased their price objective on TransAlta from C$16.00 to C$18.00 and gave the stock a “buy” rating in a research report on Wednesday. CIBC dropped their target price on TransAlta from C$16.50 to C$15.50 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Desjardins set a C$15.50 price target on TransAlta and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, National Bankshares lifted their price objective on shares of TransAlta from C$14.00 to C$15.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd.

Insider Buying and Selling

In related news, Senior Officer Jane Nyla Fedoretz sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of C$11.45, for a total value 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 business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of C$11.45, for a total transaction of C$114,500.00. Insiders have sold 78,839 shares of company stock valued at $929,648 over the last quarter. Company insiders own 0.21% of the company’s stock.

TransAlta Stock Down 5.0 %

Shares of TSE:TA opened at C$14.53 on Thursday. TransAlta has a 1-year low of C$8.22 and a 1-year high of C$15.37. The company has a debt-to-equity ratio of 219.87, a current ratio of 0.84 and a quick ratio of 0.62. The stock has a market cap of C$4.33 billion, a P/E ratio of 7.65, a P/E/G ratio of -0.07 and a beta of 0.93. The firm has a fifty day moving average price of C$13.45 and a 200 day moving average price of C$11.14.

TransAlta Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Sunday, December 1st will be issued a $0.06 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.24 annualized dividend and a dividend yield of 1.65%. TransAlta’s dividend payout ratio is currently 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.