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

TransAlta Co. (TSE:TA) (NYSE:TAC) declared a quarterly dividend on Wednesday, October 23rd,Zacks Dividends reports. Shareholders of record on Sunday, December 1st will be paid a dividend of 0.06 per share on Wednesday, January 1st. This represents a $0.24 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend is Friday, November 29th.

TransAlta Stock Up 1.5 %

TA opened at C$15.29 on Wednesday. The business has a 50 day moving average of C$14.14 and a 200-day moving average of C$11.70. The stock has a market capitalization of C$4.56 billion, a price-to-earnings ratio of 8.05, a P/E/G ratio of -0.07 and a beta of 0.93. The company has a current ratio of 0.84, a quick ratio of 0.62 and a debt-to-equity ratio of 219.87. TransAlta has a 1-year low of C$8.22 and a 1-year high of C$15.37.

Analyst Ratings Changes

Several analysts have issued reports on TA shares. BMO Capital Markets raised their price target on shares of TransAlta from C$16.00 to C$17.00 in a research report on Thursday, September 5th. National Bankshares lifted their target price on TransAlta from C$14.00 to C$15.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Desjardins cut TransAlta from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 5th. Royal Bank of Canada raised their price objective on TransAlta from C$14.00 to C$16.00 in a research report on Wednesday, November 6th. Finally, TD Securities boosted their price objective on TransAlta from C$16.00 to C$18.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$16.17.

Insiders Place Their Bets

In other news, Senior Officer Jane Nyla Fedoretz sold 20,000 shares of the company’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of C$13.92, for a total value of C$278,400.00. Also, Director John Harry Kousinioris sold 69,982 shares of TransAlta stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of C$15.15, for a total transaction of C$1,060,227.30. Insiders sold a total of 114,988 shares of company stock worth $1,716,451 over the last quarter. Company insiders own 0.21% of the company’s stock.

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.