Insider Selling: TransAlta Co. (TSE:TA) Director Sells 69,982 Shares of Stock

TransAlta Co. (TSE:TA) (NYSE:TAC) Director John Harry Kousinioris sold 69,982 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of C$15.15, for a total transaction of C$1,060,227.30.

TransAlta Stock Performance

TSE:TA opened at C$15.29 on Wednesday. The stock has a 50-day moving average price of C$14.14 and a 200 day moving average price of C$11.70. The company has a current ratio of 0.84, a quick ratio of 0.62 and a debt-to-equity ratio of 219.87. TransAlta Co. has a 12-month low of C$8.22 and a 12-month high of C$15.37. The stock has a market capitalization of C$4.56 billion, a P/E ratio of 8.05, a P/E/G ratio of -0.07 and a beta of 0.93.

TransAlta Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Sunday, December 1st will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Friday, November 29th. TransAlta’s payout ratio is currently 12.63%.

Wall Street Analyst Weigh In

TA has been the subject of a number of recent research reports. BMO Capital Markets boosted their price objective on shares of TransAlta from C$16.00 to C$17.00 in a research report on Thursday, September 5th. Desjardins cut TransAlta from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, November 5th. TD Securities raised their price objective on TransAlta from C$16.00 to C$18.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Royal Bank of Canada boosted their price objective on TransAlta from C$14.00 to C$16.00 in a research note on Wednesday, November 6th. Finally, National Bankshares raised their target price on shares of TransAlta from C$14.00 to C$15.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, TransAlta presently has a consensus rating of “Moderate Buy” and an average target price of C$16.17.

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.