TransAlta Corporation (NYSE:TAC) Receives $19.88 Consensus Target Price from Analysts

Shares of TransAlta Corporation (NYSE:TAC) (TSE:TA) have been assigned an average rating of “Moderate Buy” from the ten brokerages that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $19.8750.

A number of analysts have weighed in on TAC shares. Natl Bk Canada cut TransAlta from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 3rd. TD Securities reaffirmed a “buy” rating on shares of TransAlta in a report on Wednesday, December 10th. Scotiabank reiterated an “outperform” rating on shares of TransAlta in a research report on Monday, October 6th. CIBC reissued an “outperform” rating on shares of TransAlta in a report on Monday, October 20th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of TransAlta in a research report on Monday, November 10th.

Hedge Funds Weigh In On TransAlta

Several institutional investors have recently bought and sold shares of TAC. Savant Capital LLC bought a new stake in shares of TransAlta during the second quarter worth $127,000. Ballentine Partners LLC acquired a new position in TransAlta during the 2nd quarter worth about $134,000. Sage Rhino Capital LLC bought a new stake in TransAlta during the 3rd quarter worth about $139,000. Fox Run Management L.L.C. bought a new stake in TransAlta during the 2nd quarter worth about $140,000. Finally, State of Wyoming acquired a new stake in TransAlta in the 1st quarter valued at about $146,000. Institutional investors own 59.00% of the company’s stock.

TransAlta Stock Performance

NYSE:TAC opened at $12.51 on Wednesday. The firm has a market capitalization of $3.71 billion, a PE ratio of -26.05 and a beta of 0.75. The company has a quick ratio of 0.71, a current ratio of 0.79 and a debt-to-equity ratio of 5.22. TransAlta has a 12-month low of $7.82 and a 12-month high of $17.88. The firm has a 50-day moving average price of $15.24 and a 200 day moving average price of $13.25.

TransAlta (NYSE:TAC) (TSE:TA) last released its quarterly earnings data on Thursday, November 6th. The utilities provider reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.07). TransAlta had a negative net margin of 7.39% and a positive return on equity of 3.00%. The company had revenue of $441.57 million for the quarter, compared to analyst estimates of $558.84 million. Research analysts anticipate that TransAlta will post 0.41 earnings per share for the current fiscal year.

TransAlta Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Sunday, March 1st will be given a dividend of $0.065 per share. The ex-dividend date is Friday, February 27th. This represents a $0.26 dividend on an annualized basis and a yield of 2.1%. TransAlta’s dividend payout ratio is -39.58%.

TransAlta Company Profile

TransAlta Corporation, originally founded in 1909 as Calgary Power Company Ltd., is a publicly traded energy company specializing in the development, ownership and operation of power generation and transmission assets. Headquartered in Calgary, Alberta, TransAlta has grown from its early hydroelectric roots into a diversified energy provider with a multi-fuel generating fleet.

The company’s core business activities encompass power generation, asset management and energy trading services.