TransAlta (NYSE:TAC - Get Free Report) TSE: TA announced its quarterly earnings results on Thursday. The utilities provider reported ($0.16) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.28), Zacks reports. TransAlta had a net margin of 5.72% and a return on equity of 17.46%. The firm had revenue of $484.60 million during the quarter.
TransAlta Trading Down 3.6 %
TransAlta stock traded down $0.41 during midday trading on Friday, reaching $10.88. The stock had a trading volume of 5,542,753 shares, compared to its average volume of 2,180,275. The firm's fifty day simple moving average is $12.65 and its two-hundred day simple moving average is $10.96. TransAlta has a twelve month low of $5.94 and a twelve month high of $14.64. The company has a debt-to-equity ratio of 2.94, a current ratio of 0.74 and a quick ratio of 0.67. The firm has a market cap of $3.24 billion, a price-to-earnings ratio of 29.39 and a beta of 0.83.
TransAlta Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Sunday, June 1st will be paid a $0.0458 dividend. This is a positive change from TransAlta's previous quarterly dividend of $0.04. The ex-dividend date is Friday, May 30th. This represents a $0.18 dividend on an annualized basis and a yield of 1.68%. TransAlta's dividend payout ratio (DPR) is currently 48.65%.
Wall Street Analyst Weigh In
Several equities research analysts have commented on the stock. StockNews.com upgraded shares of TransAlta from a "hold" rating to a "buy" rating in a research note on Tuesday, February 11th. CIBC upgraded shares of TransAlta from a "neutral" rating to an "outperformer" rating and lowered their price objective for the company from $23.00 to $19.50 in a research note on Tuesday. Scotiabank lowered shares of TransAlta from a "sector outperform" rating to a "sector perform" rating in a research note on Thursday, January 23rd. Desjardins reiterated a "hold" rating on shares of TransAlta in a research note on Wednesday, November 6th. Finally, Cibc World Mkts upgraded shares of TransAlta from a "hold" rating to a "strong-buy" rating in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $19.50.
Get Our Latest Stock Analysis on TransAlta
About TransAlta
(
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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.
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