TransAlta Co. (TSE:TA – Get Free Report) (NYSE:TAC) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$9.62 and traded as high as C$9.63. TransAlta shares last traded at C$9.55, with a volume of 974,977 shares trading hands.
Wall Street Analyst Weigh In
Separately, CIBC upped their target price on shares of TransAlta from C$16.00 to C$16.50 and gave the stock an “outperform” rating in a report on Wednesday, June 12th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of C$15.28.
TransAlta Stock Up 1.1 %
TransAlta (TSE:TA – Get Free Report) (NYSE:TAC) last released its quarterly earnings data on Friday, May 3rd. The company reported C$0.72 earnings per share for the quarter, beating the consensus estimate of C$0.18 by C$0.54. TransAlta had a net margin of 19.39% and a return on equity of 33.61%. The firm had revenue of C$947.00 million for the quarter. On average, sell-side analysts predict that TransAlta Co. will post 0.8411458 earnings per share for the current fiscal year.
TransAlta Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Saturday, June 1st will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 2.50%. The ex-dividend date is Friday, May 31st. TransAlta’s dividend payout ratio (DPR) is presently 12.31%.
Insiders Place Their Bets
In related news, Senior Officer Blain Mitchell Van Melle sold 10,000 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of C$9.67, for a total transaction of C$96,700.00. Company insiders own 0.20% 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.
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