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

TransAlta Co. (TSE:TA - Get Free Report) NYSE: TAC announced a quarterly dividend on Wednesday, October 23rd, Zacks reports. Shareholders of record on Sunday, December 1st will be paid a dividend of 0.06 per share on Wednesday, January 1st. This represents a $0.24 dividend on an annualized basis and a yield of ∞. The ex-dividend date is Friday, November 29th.

TransAlta Price Performance

The company has a market capitalization of C$4.21 billion, a price-to-earnings ratio of 7.41, a P/E/G ratio of -0.07 and a beta of 0.93. TransAlta has a twelve month low of C$8.22 and a twelve month high of C$14.65. The company has a quick ratio of 0.62, a current ratio of 0.84 and a debt-to-equity ratio of 219.87. The stock has a 50 day moving average of C$12.98 and a two-hundred day moving average of C$10.84.

TransAlta (TSE:TA - Get Free Report) NYSE: TAC last issued its earnings results on Thursday, August 1st. The company reported C$0.18 EPS for the quarter, topping the consensus estimate of C$0.07 by C$0.11. TransAlta had a return on equity of 32.01% and a net margin of 19.50%. The business had revenue of C$582.00 million during the quarter.

Wall Street Analyst Weigh In

Several equities analysts recently commented on TA shares. CIBC reduced their price objective on shares of TransAlta from C$16.50 to C$15.50 and set an "outperform" rating for the company in a research note on Monday, July 22nd. BMO Capital Markets boosted their price objective on TransAlta from C$16.00 to C$17.00 in a report on Thursday, September 5th. Finally, National Bankshares raised their target price on shares of TransAlta from C$14.00 to C$15.00 and gave the company an "outperform" rating in a research note on Friday, August 23rd. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, TransAlta presently has an average rating of "Buy" and a consensus price target of C$15.17.

Insider Buying and Selling at TransAlta

In other news, Senior Officer Jane Nyla Fedoretz sold 41,378 shares of the company's stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of C$11.30, for a total value of C$467,571.40. In other TransAlta news, Senior Officer Kerry Lynn O'reilly sold 48,833 shares of TransAlta stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of C$10.99, for a total value of C$536,674.67. Also, Senior Officer Jane Nyla Fedoretz sold 41,378 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of C$11.30, for a total value of C$467,571.40. Insiders have sold 120,217 shares of company stock worth $1,397,220 over the last ninety days. Insiders own 0.21% of the company's stock.

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.