Insider Buying: TransAlta (TSE:TA) Insider Acquires C$195,800.00 in Stock

TransAlta Co. (TSE:TA) (NYSE:TAC) insider Michael Politeski acquired 10,000 shares of the company’s stock in a transaction dated Friday, June 19th. The shares were purchased at an average cost of C$19.58 per share, for a total transaction of C$195,800.00. Following the purchase, the insider directly owned 75,000 shares in the company, valued at approximately C$1,468,500. This trade represents a 15.38% increase in their ownership of the stock.

Michael Politeski also recently made the following trade(s):

• On Friday, June 5th, Michael Politeski bought 10,000 shares of TransAlta stock. The shares were purchased at an average cost of C$18.15 per share, with a total value of C$181,500.00.
• On Wednesday, May 13th, Michael Politeski bought 10,000 shares of TransAlta stock. The stock was purchased at an average price of C$17.24 per share, with a total value of C$172,400.00.

TransAlta Stock Performance

Shares of TSE TA opened at C$19.47 on Thursday. The company has a market capitalization of C$6.15 billion, a PE ratio of -25.96, a price-to-earnings-growth ratio of -0.07 and a beta of 0.69. The company has a debt-to-equity ratio of 317.20, a quick ratio of 0.61 and a current ratio of 0.76. The company’s fifty day moving average price is C$18.18 and its 200 day moving average price is C$18.01. TransAlta Co. has a 1 year low of C$14.08 and a 1 year high of C$25.03.

TransAlta (TSE:TA) (NYSE:TAC) last released its quarterly earnings data on Wednesday, May 6th. The company reported C$0.06 earnings per share for the quarter. The company had revenue of C$560.00 million during the quarter. TransAlta had a negative net margin of 7.73% and a negative return on equity of 11.56%.

Analyst Ratings Changes

A number of equities analysts have issued reports on TA shares. ATB Cormark Capital Markets set a C$28.00 price target on TransAlta and gave the stock an “outperform” rating in a research report on Wednesday, June 10th. National Bank Financial boosted their price objective on TransAlta from C$22.00 to C$24.00 and gave the company an “outperform” rating in a research report on Monday, June 1st. Royal Bank Of Canada set a C$24.00 target price on TransAlta and gave the stock an “outperform” rating in a research note on Wednesday, June 10th. Desjardins increased their target price on TransAlta from C$18.00 to C$18.50 and gave the company a “hold” rating in a research report on Wednesday, June 10th. Finally, Scotia set a C$27.00 price target on shares of TransAlta and gave the company a “sector outperform” rating in a research note on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of C$24.95.

About TransAlta

TransAlta owns, operates and develops a diverse fleet of electrical power generation assets in Canada, the United States and Australia with a focus on long-term shareholder value. TransAlta provides municipalities, medium and large industries, businesses and utility customers with affordable, energy efficient and reliable power. Today, TransAlta is one of Canada’s largest producers of wind power and Alberta’s largest producer of thermal generation and hydro-electric power. For over 114 years, TransAlta has been a responsible operator and a proud member of the communities where we operate and where our employees work and live.