TransAlta (TSE:TA) Hits New 52-Week High After Analyst Upgrade

TransAlta Co. (TSE:TA) (NYSE:TAC)’s share price reached a new 52-week high on Monday after BMO Capital Markets raised their price target on the stock from C$17.00 to C$22.00. The stock traded as high as C$19.77 and last traded at C$19.76, with a volume of 642251 shares traded. The stock had previously closed at C$19.09.

Several other research analysts have also issued reports on TA. Desjardins lowered shares of TransAlta from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Scotiabank upgraded TransAlta to a “strong-buy” rating in a report on Thursday, December 5th. Royal Bank of Canada raised their price objective on TransAlta from C$14.00 to C$16.00 in a report on Wednesday, November 6th. TD Securities upped their target price 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. Finally, National Bankshares lifted their price target 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, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of C$17.00.

Insider Activity at TransAlta

In other TransAlta news, Director John Harry Kousinioris sold 45,000 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were 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 20,000 shares of TransAlta stock in a transaction that occurred 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. Insiders have sold 179,584 shares of company stock worth $2,833,709 over the last 90 days. 0.21% of the stock is owned by company insiders.

TransAlta Price Performance

The firm’s fifty day simple moving average is C$15.12 and its 200-day simple moving average is C$12.35. The company has a quick ratio of 0.62, a current ratio of 0.84 and a debt-to-equity ratio of 219.87. The firm has a market capitalization of C$5.92 billion, a PE ratio of 10.25, a PEG ratio of -0.07 and a beta of 0.93.

TransAlta Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Sunday, December 1st will be given a dividend of $0.06 per share. The ex-dividend date is Friday, November 29th. This represents a $0.24 annualized dividend and a dividend yield of 1.21%. TransAlta’s dividend payout ratio (DPR) is presently 12.63%.

About TransAlta

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.