TransAlta Co. (TSE:TA) Declares $0.06 Quarterly Dividend

TransAlta Co. (TSE:TA) (NYSE:TAC) announced a quarterly dividend on Monday, July 29th, Zacks reports. Shareholders of record on Sunday, September 1st will be paid a dividend of 0.06 per share on Tuesday, October 1st. This represents a $0.24 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend is Friday, August 30th.

TransAlta Price Performance

Shares of TransAlta stock opened at C$10.19 on Wednesday. The company’s fifty day simple moving average is C$9.75 and its two-hundred day simple moving average is C$9.44. TransAlta has a 12-month low of C$8.22 and a 12-month 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. The firm has a market cap of C$3.10 billion, a PE ratio of 5.23, a price-to-earnings-growth ratio of -0.07 and a beta of 0.87.

TransAlta (TSE:TA) (NYSE:TAC) last posted its earnings results on Friday, May 3rd. The company reported C$0.72 EPS for the quarter, topping 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 during the quarter. As a group, equities analysts expect that TransAlta will post 0.8411458 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, CIBC lowered their price target on shares of TransAlta from C$16.50 to C$15.50 and set an “outperform” rating for the company in a research report on Monday, July 22nd. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, TransAlta currently has a consensus rating of “Buy” and an average price target of C$15.17.

Insider Buying and Selling at TransAlta

In other news, Senior Officer Blain Mitchell Van Melle sold 10,000 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of C$9.67, for a total value of C$96,700.00. 0.20% of the stock is owned by company insiders.

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.