TransAlta (TSE:TA) Price Target Raised to C$16.00 at Royal Bank of Canada

TransAlta (TSE:TA) (NYSE:TAC) had its price target hoisted by Royal Bank of Canada from C$14.00 to C$16.00 in a research report sent to investors on Wednesday,BayStreet.CA reports.

Other research analysts also recently issued reports about the company. CIBC cut their price target 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. BMO Capital Markets lifted their price objective on TransAlta from C$16.00 to C$17.00 in a research report on Thursday, September 5th. Desjardins set a C$15.50 target price on TransAlta and gave the stock a “buy” rating in a research report on Wednesday, October 30th. National Bankshares lifted their price target on TransAlta from C$14.00 to C$15.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Finally, TD Securities increased their price objective on shares of TransAlta from C$16.00 to C$18.00 and gave the stock a “buy” rating in a report on Wednesday. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$16.17.

TransAlta Stock Performance

Shares of TSE TA opened at C$14.35 on Wednesday. The company has a 50-day simple moving average of C$13.55 and a 200-day simple moving average of C$11.24. 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 company has a market cap of C$4.28 billion, a PE ratio of 7.55, a price-to-earnings-growth ratio of -0.07 and a beta of 0.93. TransAlta has a 12 month low of C$8.22 and a 12 month high of C$15.37.

TransAlta Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Sunday, December 1st will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date is Friday, November 29th. TransAlta’s payout ratio is currently 12.63%.

Insider Activity at TransAlta

In related news, Senior Officer Jane Nyla Fedoretz sold 20,000 shares of TransAlta stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of C$13.92, for a total transaction of C$278,400.00. Over the last quarter, insiders have sold 30,006 shares of company stock worth $392,973. 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.