TransAlta (TSE:TA) Reaches New 12-Month High at $14.09

TransAlta Co. (TSE:TA) (NYSE:TAC)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$14.09 and last traded at C$14.09, with a volume of 65317 shares trading hands. The stock had previously closed at C$13.88.

A number of equities research analysts recently issued reports on the company. National Bank Financial lifted their target price on TransAlta to C$13.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 11th. CSFB set a C$18.00 price target on TransAlta and gave the stock an “outperform” rating in a report on Tuesday, October 5th. Credit Suisse Group reissued an “outperform” rating and set a C$18.00 price target on shares of TransAlta in a report on Wednesday, September 29th. BMO Capital Markets reissued an “outperform” rating on shares of TransAlta in a report on Tuesday, September 21st. Finally, CIBC lifted their price target on TransAlta from C$15.00 to C$16.00 in a report on Wednesday, September 29th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of C$15.25.

The business has a 50-day moving average of C$12.86 and a two-hundred day moving average of C$12.31. The firm has a market cap of C$3.80 billion and a P/E ratio of -10.96. The company has a current ratio of 1.77, a quick ratio of 1.25 and a debt-to-equity ratio of 118.25.

TransAlta (TSE:TA) (NYSE:TAC) last announced its earnings results on Tuesday, August 10th. The company reported C$0.08 EPS for the quarter, beating the consensus estimate of C$0.06 by C$0.02. The business had revenue of C$619.00 million for the quarter. As a group, equities analysts expect that TransAlta Co. will post 0.22 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Saturday, January 1st. Stockholders of record on Wednesday, December 1st will be issued a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, November 30th. This is a positive change from TransAlta’s previous quarterly dividend of $0.05. This represents a $0.20 annualized dividend and a dividend yield of 1.43%. TransAlta’s dividend payout ratio is currently -13.82%.

About TransAlta (TSE:TA)

TransAlta Corporation owns, operates, and develops a diverse fleet of electrical power generation assets in Canada, the United States, and Australia. It operates through six segments: Hydro, Wind and Solar, North American Gas, Australian Gas, Alberta Thermal, and Centralia. The company owns and operates hydro, wind and solar, natural gas-fired, and coal-fired facilities.

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