CIBC Increases TransAlta (TSE:TA) Price Target to C$16.50

TransAlta (TSE:TAFree Report) (NYSE:TAC) had its price objective upped by CIBC from C$16.00 to C$16.50 in a report issued on Wednesday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other research firms have also recently weighed in on TA. TD Securities lowered their price objective on TransAlta from C$15.00 to C$14.00 and set a buy rating on the stock in a research report on Monday, February 26th. Royal Bank of Canada lowered their price objective on TransAlta from C$15.00 to C$14.00 and set an outperform rating on the stock in a research report on Monday, February 26th. Finally, BMO Capital Markets lowered their price objective on TransAlta from C$17.00 to C$16.00 and set an outperform rating on the stock in a research report on Monday, February 26th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Buy and a consensus price target of C$15.28.

Get Our Latest Analysis on TransAlta

TransAlta Trading Down 0.2 %

TransAlta stock opened at C$9.54 on Wednesday. The business has a 50-day simple moving average of C$9.40 and a two-hundred day simple moving average of C$9.71. The company has a market cap of C$2.90 billion, a P/E ratio of 4.89, a P/E/G ratio of -0.07 and a beta of 0.87. TransAlta has a 52-week low of C$8.22 and a 52-week high of C$13.97. The company has a quick ratio of 0.62, a current ratio of 0.69 and a debt-to-equity ratio of 217.60.

TransAlta (TSE:TAGet Free Report) (NYSE:TAC) last released its quarterly earnings results on Friday, May 3rd. The company reported C$0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.18 by C$0.54. The business had revenue of C$947.00 million during the quarter. TransAlta had a return on equity of 33.61% and a net margin of 19.39%. Analysts predict that TransAlta will post 0.8411458 EPS for the current year.

TransAlta Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Saturday, June 1st will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend is Friday, May 31st. TransAlta’s dividend payout ratio (DPR) is presently 12.31%.

Insider Buying and Selling at TransAlta

In other news, Senior Officer Blain Mitchell Van Melle sold 20,000 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of C$9.75, for a total transaction of C$194,958.00. 0.20% of the stock is currently owned by corporate insiders.

About TransAlta

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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.

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Analyst Recommendations for TransAlta (TSE:TA)

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