Michael Politeski Buys 10,000 Shares of TransAlta (TSE:TA) Stock

TransAlta Co. (TSE:TA) (NYSE:TAC) insider Michael Politeski purchased 10,000 shares of TransAlta stock in a transaction on Friday, June 19th. The stock was bought at an average price of C$19.58 per share, with a total value of C$195,800.00. Following the completion of the acquisition, the insider directly owned 75,000 shares of the company’s stock, valued at approximately C$1,468,500. This trade represents a 15.38% increase in their position.

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

• On Friday, June 5th, Michael Politeski acquired 10,000 shares of TransAlta stock. The shares were bought at an average cost of C$18.15 per share, for a total transaction 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 Up 1.1%

TransAlta stock traded up C$0.22 during midday trading on Monday, reaching C$19.74. The stock had a trading volume of 744,361 shares, compared to its average volume of 1,516,193. The company has a market capitalization of C$6.24 billion, a P/E ratio of -26.32, a PEG ratio of -0.07 and a beta of 0.69. TransAlta Co. has a 12 month low of C$14.08 and a 12 month high of C$25.03. The company has a fifty day moving average price of C$18.16 and a two-hundred day moving average price of C$18.02. The company has a current ratio of 0.76, a quick ratio of 0.61 and a debt-to-equity ratio of 317.20.

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TA. Royal Bank Of Canada set a C$24.00 price target on shares of TransAlta and gave the company an “outperform” rating in a research report on Wednesday, June 10th. ATB Cormark Capital Markets set a C$28.00 target price on shares of TransAlta and gave the company an “outperform” rating in a report on Wednesday, June 10th. National Bank Financial upped their target price on TransAlta from C$22.00 to C$24.00 and gave the company an “outperform” rating in a report on Monday, June 1st. TD set a C$26.00 price target on TransAlta and gave the company a “buy” rating in a research report on Wednesday, June 10th. Finally, Scotia set a C$27.00 price objective on 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 given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus 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.