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

TransAlta Co. (TSE:TA) (NYSE:TAC) announced a quarterly dividend on Wednesday, April 24th, Zacks reports. Shareholders of record on Saturday, June 1st will be given a dividend of 0.06 per share on Monday, July 1st. This represents a $0.24 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date of this dividend is Friday, May 31st.

TransAlta Trading Up 2.6 %

TransAlta stock opened at C$9.32 on Friday. The stock has a 50-day moving average of C$8.92 and a two-hundred day moving average of C$10.04. The company has a debt-to-equity ratio of 253.18, a quick ratio of 0.62 and a current ratio of 0.91. TransAlta has a one year low of C$8.22 and a one year high of C$13.97. The stock has a market cap of C$2.87 billion, a PE ratio of 4.00, a price-to-earnings-growth ratio of -0.07 and a beta of 0.89.

TransAlta (TSE:TA) (NYSE:TAC) last released its quarterly earnings results on Friday, February 23rd. The company reported C($0.27) EPS for the quarter, missing analysts’ consensus estimates of C$0.18 by C($0.45). TransAlta had a net margin of 20.71% and a return on equity of 43.58%. The business had revenue of C$624.00 million during the quarter. On average, research analysts anticipate that TransAlta will post 0.4700714 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TA. TD Securities reduced their price objective on TransAlta from C$15.00 to C$14.00 and set a “buy” rating for the company in a research note on Monday, February 26th. CIBC reduced their price objective on TransAlta from C$18.50 to C$16.00 and set an “outperform” rating for the company in a research note on Friday, April 19th. Royal Bank of Canada dropped their target price on TransAlta from C$15.00 to C$14.00 and set an “outperform” rating on the stock in a report on Monday, February 26th. National Bankshares dropped their price objective on TransAlta from C$14.00 to C$13.00 and set an “outperform” rating on the stock in a report on Tuesday, January 30th. Finally, BMO Capital Markets dropped their price objective on TransAlta from C$17.00 to C$16.00 and set an “outperform” rating on the stock in a report on Monday, February 26th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of C$15.55.

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.