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

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

TransAlta Trading Up 2.6 %

Shares of TA opened at C$9.32 on Friday. The stock’s 50-day moving average is C$8.92 and its two-hundred day moving average is C$10.04. The stock has a market cap of C$2.87 billion, a PE ratio of 4.00, a P/E/G ratio of -0.07 and a beta of 0.89. TransAlta has a 12 month low of C$8.22 and a 12 month high of C$13.97. The company has a debt-to-equity ratio of 253.18, a current ratio of 0.91 and a quick ratio of 0.62.

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 the consensus estimate of C$0.18 by C($0.45). TransAlta had a return on equity of 43.58% and a net margin of 20.71%. The business had revenue of C$624.00 million during the quarter. Equities analysts forecast that TransAlta will post 0.4700714 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on TA. National Bankshares lowered their target price on TransAlta from C$14.00 to C$13.00 and set an “outperform” rating for the company in a report on Tuesday, January 30th. Royal Bank of Canada lowered their target price on TransAlta from C$15.00 to C$14.00 and set an “outperform” rating for the company in a report on Monday, February 26th. BMO Capital Markets lowered their target price on TransAlta from C$17.00 to C$16.00 and set an “outperform” rating for the company in a report on Monday, February 26th. TD Securities lowered their target price on TransAlta from C$15.00 to C$14.00 and set a “buy” rating for the company in a report on Monday, February 26th. Finally, CIBC lowered their target price on TransAlta from C$18.50 to C$16.00 and set an “outperform” rating for the company in a report on Friday, April 19th. One 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’s stock. Based on data from MarketBeat, TransAlta has an average rating of “Buy” and a consensus target price 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.