TransAlta Corporation owns, operates, and develops a diverse fleet of electrical power generation assets in Canada, the United States, and Australia. It operates through four segments: Hydro, Wind and Solar, Gas, and Energy Transition. owns and operates hydro, wind and solar, natural gas-fired, and coal-fired facilities. The company also engages in wholesale trading of electricity and other energy-related commodities and derivatives; and related mining operations and natural gas pipeline operations. It serves municipalities, medium and large industries, businesses, and utility customers. The company was founded in 1909 and is headquartered in Calgary, Canada.
Analysts Set New Price Targets
A number of research firms recently weighed in on TAC. StockNews.com lowered TransAlta from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, August 9th. National Bank Financial lifted their target price on shares of TransAlta from C$14.00 to C$15.00 in a research report on Monday, May 9th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $16.44.
TransAlta Stock Down 1.6 %
TAC Stock traded down $0.16 during mid-day trading on Wednesday, hitting $9.89. The stock had a trading volume of 10,284 shares, compared to its average volume of 472,164. The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of -7.81 and a beta of 0.98. The company has a current ratio of 1.12, a quick ratio of 1.06 and a debt-to-equity ratio of 1.62. TransAlta has a 1-year low of $9.44 and a 1-year high of $12.13. The company has a fifty day moving average of $11.11 and a 200 day moving average of $10.77.
TransAlta (NYSE:TAC - Get Rating) (TSE:TA) last released its quarterly earnings data on Friday, August 5th. The utilities provider reported ($0.30) EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.48). The firm had revenue of $461.00 million during the quarter, compared to analyst estimates of $449.56 million. TransAlta had a positive return on equity of 9.86% and a negative net margin of 15.45%. The company's quarterly revenue was down 26.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.07 EPS. On average, equities analysts expect that TransAlta will post 0.34 EPS for the current fiscal year.
TransAlta Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Thursday, September 1st will be given a dividend of $0.0388 per share. This represents a $0.16 annualized dividend and a yield of 1.57%. The ex-dividend date is Wednesday, August 31st. TransAlta's payout ratio is -12.60%.