TransAlta (TA) Hits New 1-Year High at $8.36

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Shares of TransAlta Co. (TSE:TA) (NYSE:TAC) hit a new 52-week high on Thursday . The company traded as high as C$8.36 and last traded at C$8.34, with a volume of 367718 shares. The stock had previously closed at C$8.23.

A number of analysts recently weighed in on the stock. BMO Capital Markets reduced their target price on shares of TransAlta from C$8.50 to C$8.00 and set a “market perform” rating for the company in a report on Tuesday, December 18th. CIBC raised their price objective on shares of TransAlta from C$8.00 to C$9.00 in a research note on Thursday, February 28th. TD Securities raised their price objective on shares of TransAlta from C$8.00 to C$8.50 and gave the stock a “hold” rating in a research note on Thursday, February 28th. Finally, National Bank Financial raised shares of TransAlta from a “sector perform” rating to an “outperform” rating and set a C$8.00 price objective for the company in a research note on Wednesday, January 23rd.

The company has a current ratio of 1.50, a quick ratio of 0.82 and a debt-to-equity ratio of 79.03. The stock has a market capitalization of $2.31 billion and a PE ratio of -9.70.

The business also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 1st will be given a $0.053 dividend. This is an increase from TransAlta’s previous quarterly dividend of $0.04. The ex-dividend date is Thursday, February 28th. This represents a $0.21 dividend on an annualized basis and a yield of 2.53%. TransAlta’s dividend payout ratio is presently -18.52%.

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TransAlta Company Profile (TSE:TA)

TransAlta Corporation operates as non-regulated electricity generation and energy marketing company in Canada, the United States, and Western Australia. The company operates through eight segments: Canadian Coal, U.S. Coal, Canadian Gas, Australian Gas, Wind and Solar, Hydro, Energy Marketing, and Corporate.

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