TransAlta Co. (TSE:TA) Receives Average Analyst Rating of “Moderate Buy”

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Shares of TransAlta Co. (TSE:TA – Get Rating) (NYSE:TAC) have been assigned an average recommendation of “Moderate Buy” by the ten research firms that currently cover the stock, reports MarketBeat.com. Two analysts rated the stock with a hold rating and four gave the company a buy rating. The 12-month average target price among brokerages that have hedged the stock over the past year is C$16.25.

TA has been the subject of a number of reports by research analysts. BMO Capital Markets restated a “buy” rating and set a C$17.00 price target on TransAlta shares in a Monday, May 9 report. National Bankshares raised its target price on TransAlta from C$14.00 to C$15.00 and gave the stock an “sector performance” rating in a report released Monday, May 9. Credit Suisse Group raised its target price on TransAlta from C$18.00 to C$18.50 and gave the stock an “outperform” rating in a Monday, July 25 report. Finally, CSFB raised its target price on TransAlta from C$17.00 to C$18.00 in a Wednesday, April 20 report.

Insider Activity at TransAlta

In other news, Senior Officer Kerry Lynn O’reilly sold 103,081 shares of the company in a trade Thursday, May 12. The stock was sold at an average price of CA$14.01, for a total transaction of CA$1,444,618.37. Following the completion of the sale, the insider now directly owns 67,447 shares of the company, valued at approximately C$945,229.24. In other news, Senior Officer Jane Nyla Fedoretz sold 84,162 shares of the company in a trade on Tuesday, May 10. The stock was sold at an average price of CA$14.27, for a total transaction of CA$1,200,991.74. Following the completion of the sale, the insider now directly owns 67,613 shares of the company, valued at approximately C$964,837.51. Additionally, senior officer Kerry Lynn O’reilly sold 103,081 shares of the company in a trade on Thursday, May 12. The shares were sold at an average price of C$14.01, for a total value of C$1,444,618.37. Following the sale, the insider now directly owns 67,447 shares of the company, valued at C$945,229.24.

Performance of TransAlta shares

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TA shares opened at C$14.66 on Friday. The stock has a market capitalization of C$3.97 billion and a PE ratio of -11.05. TransAlta has a 1-year low of C$11.87 and a 1-year high of C$15.28. The company’s 50-day simple moving average is C$14.54 and its 200-day simple moving average is C$13.73. The company has a debt ratio of 149.96, a current ratio of 1.14 and a quick ratio of 0.79.

TransAlta (TSE:TA – Get Rating) (NYSE:TAC) last released its quarterly results on Friday, May 6. The company reported earnings per share (EPS) of C$0.57 for the quarter, beating analyst consensus estimates of C$0.10 by C$0.47. The company reported revenue of C$735.00 million for the quarter. As a group, research analysts expect TransAlta to post earnings per share of 0.35 for the current year.

TransAlta announces dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, October 1. Investors of record on Thursday, September 1 will receive a dividend of $0.05. This represents a dividend of $0.20 on an annualized basis and a yield of 1.36%. The ex-date of this dividend is Wednesday, August 31. TransAlta’s payout ratio is currently -15.07%.

TransAlta Company Profile

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TransAlta Corporation owns, operates and develops a diverse fleet of power generation assets in Canada, the United States and Australia. It operates through four segments: hydraulic, wind and solar, gas and energy transition. owns and operates hydroelectric, wind and solar, natural gas and coal facilities.

See also

Analyst recommendations for TransAlta (TSE: TA)

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