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

TransAlta Co. (TSE:TA) (NYSE:TAC) announced a quarterly dividend on Wednesday, October 23rd,Zacks Dividends 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 1.54%. The ex-dividend date of this dividend is Friday, November 29th.

TransAlta Price Performance

Shares of TSE TA opened at C$15.55 on Thursday. The firm’s 50-day moving average price is C$14.21 and its 200-day moving average price is C$11.73. TransAlta has a 1-year low of C$8.22 and a 1-year high of C$15.61. The firm has a market capitalization of C$4.64 billion, a P/E ratio of 8.18, a P/E/G ratio of -0.07 and a beta of 0.93. The company has a current ratio of 0.84, a quick ratio of 0.62 and a debt-to-equity ratio of 219.87.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on TA shares. Desjardins lowered shares of TransAlta from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 5th. National Bankshares upped their price objective on shares of TransAlta from C$14.00 to C$15.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. TD Securities upped their price objective on shares of TransAlta from C$16.00 to C$18.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. BMO Capital Markets upped their price objective on shares of TransAlta from C$16.00 to C$17.00 in a report on Thursday, September 5th. Finally, Royal Bank of Canada upped their price objective on shares of TransAlta from C$14.00 to C$16.00 in a report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$16.17.

Insider Buying and Selling

In other TransAlta news, Senior Officer Jane Nyla Fedoretz sold 25,000 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of C$15.11, for a total value of C$377,750.00. Also, Director John Harry Kousinioris sold 69,982 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of C$15.15, for a total transaction of C$1,060,227.30. Insiders have sold 114,988 shares of company stock worth $1,716,451 in the last quarter. Insiders own 0.21% of the company’s stock.

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.