TransAlta (TSE:TA) Price Target Raised to C$22.00

TransAlta (TSE:TA) (NYSE:TAC) had its price objective lifted by BMO Capital Markets from C$17.00 to C$22.00 in a report released on Monday morning,BayStreet.CA reports.

A number of other equities research analysts also recently commented on TA. Desjardins cut TransAlta from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 5th. TD Securities boosted their price target on shares of TransAlta from C$16.00 to C$18.00 and gave the stock 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 research note on Wednesday, November 6th. Scotiabank raised TransAlta to a “strong-buy” rating in a research note on Thursday, December 5th. Finally, National Bankshares boosted 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. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of C$17.08.

TransAlta Stock Performance

Shares of TSE TA opened at C$20.16 on Monday. The company has a market cap of C$6.01 billion, a P/E ratio of 10.61, a P/E/G ratio of -0.07 and a beta of 0.93. The firm’s fifty day moving average is C$15.48 and its two-hundred day moving average is C$12.55. 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 52-week low of C$8.22 and a 52-week high of C$20.98.

TransAlta Dividend Announcement

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

Insider Activity at TransAlta

In other TransAlta news, Director John Harry Kousinioris sold 45,000 shares of TransAlta stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of C$17.67, for a total value of C$795,150.00. Also, Senior Officer Jane Nyla Fedoretz sold 25,000 shares of TransAlta stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of C$15.11, for a total transaction of C$377,750.00. Over the last quarter, insiders sold 189,584 shares of company stock worth $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.