TransAlta Co. (NYSE:TAC – Get Free Report) (TSE:TA) rose 7.2% during mid-day trading on Thursday following a stronger than expected earnings report. The stock traded as high as $8.09 and last traded at $8.08. Approximately 1,005,064 shares were traded during trading, an increase of 35% from the average daily volume of 744,932 shares. The stock had previously closed at $7.54.
The utilities provider reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.08. The company had revenue of $425.37 million for the quarter. TransAlta had a return on equity of 45.67% and a net margin of 18.41%. During the same period in the prior year, the firm earned $0.17 earnings per share.
TransAlta Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Sunday, September 1st will be paid a dividend of $0.044 per share. This is an increase from TransAlta’s previous quarterly dividend of $0.04. This represents a $0.18 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date is Friday, August 30th. TransAlta’s dividend payout ratio is 11.61%.
Institutional Inflows and Outflows
TransAlta Price Performance
The company has a current ratio of 0.69, a quick ratio of 0.62 and a debt-to-equity ratio of 2.95. The business has a fifty day simple moving average of $7.16 and a 200 day simple moving average of $6.95. The stock has a market capitalization of $2.41 billion, a P/E ratio of 5.18 and a beta of 0.88.
About TransAlta
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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