TransAlta (TSE:TA) Posts Earnings Results

TransAlta (TSE:TA) (NYSE:TAC) released its quarterly earnings results on Wednesday. The company reported C$0.06 EPS for the quarter, FiscalAI reports. TransAlta had a negative net margin of 5.74% and a negative return on equity of 8.84%. The firm had revenue of C$560.00 million during the quarter.

TransAlta Trading Up 1.5%

TransAlta stock traded up C$0.25 during trading hours on Wednesday, hitting C$17.45. The company had a trading volume of 3,492,278 shares, compared to its average volume of 1,331,561. The firm has a market cap of C$5.18 billion, a P/E ratio of -27.27, a P/E/G ratio of -0.07 and a beta of 0.54. The company has a debt-to-equity ratio of 320.51, a quick ratio of 0.62 and a current ratio of 0.73. TransAlta has a 1 year low of C$11.56 and a 1 year high of C$25.03. The company has a 50-day moving average price of C$17.76 and a two-hundred day moving average price of C$18.81.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Jefferies Financial Group dropped their price target on shares of TransAlta from C$27.00 to C$22.00 in a research note on Wednesday, January 21st. National Bank Financial raised shares of TransAlta from a “hold” rating to an “outperform” rating and set a C$22.00 price objective for the company in a research report on Tuesday, March 24th. Desjardins lowered their price objective on shares of TransAlta from C$19.00 to C$18.00 and set a “hold” rating for the company in a research report on Tuesday, February 10th. Finally, ATB Cormark Capital Markets boosted their price objective on shares of TransAlta from C$27.00 to C$28.00 and gave the company an “outperform” rating in a research report on Tuesday, March 24th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, TransAlta has an average rating of “Moderate Buy” and an average target price of C$24.25.

Insider Activity

In other news, insider Christopher Douglas Fralick sold 36,453 shares of the company’s stock in a transaction that occurred on Thursday, March 26th. The shares were sold at an average price of C$17.90, for a total value of C$652,508.70. Following the completion of the sale, the insider owned 46,939 shares of the company’s stock, valued at approximately C$840,208.10. This represents a 43.71% decrease in their position. Also, insider Jane Nyla Fedoretz sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of C$18.15, for a total transaction of C$127,050.00. Following the completion of the sale, the insider directly owned 84,453 shares of the company’s stock, valued at C$1,532,821.95. The trade was a 7.65% decrease in their position. Over the last three months, insiders sold 70,953 shares of company stock valued at $1,262,409. 0.21% of the stock is owned by corporate insiders.

About TransAlta

TransAlta owns, operates and develops a diverse fleet of electrical power generation assets in Canada, the United States and Australia with a focus on long-term shareholder value. TransAlta provides municipalities, medium and large industries, businesses and utility customers with affordable, energy efficient and reliable power. Today, TransAlta is one of Canada’s largest producers of wind power and Alberta’s largest producer of thermal generation and hydro-electric power. For over 114 years, TransAlta has been a responsible operator and a proud member of the communities where we operate and where our employees work and live.