TransAlta (TSE:TA) Sets New 1-Year High at $10.90

TransAlta Co. (TSE:TA) (NYSE:TAC) shares reached a new 52-week high during mid-day trading on Friday . The company traded as high as C$10.90 and last traded at C$10.90, with a volume of 168862 shares changing hands. The stock had previously closed at C$10.70.

A number of brokerages have weighed in on TA. CIBC lifted their target price on TransAlta from C$9.50 to C$10.00 in a research report on Thursday, January 30th. Royal Bank of Canada raised TransAlta from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from C$11.00 to C$13.00 in a research report on Monday. National Bank Financial lifted their target price on TransAlta from C$10.00 to C$11.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 29th. Finally, Scotiabank lifted their target price on TransAlta from C$11.00 to C$12.00 in a research report on Friday, February 7th.

The company has a current ratio of 2.02, a quick ratio of 1.06 and a debt-to-equity ratio of 82.88. The stock has a 50-day simple moving average of C$9.51 and a two-hundred day simple moving average of C$8.76. The firm has a market capitalization of $3.00 billion and a P/E ratio of -22.82.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be given a dividend of $0.043 per share. The ex-dividend date of this dividend is Friday, February 28th. This is a positive change from TransAlta’s previous quarterly dividend of $0.04. This represents a $0.17 dividend on an annualized basis and a yield of 1.58%. TransAlta’s payout ratio is -33.47%.

About TransAlta (TSE:TA)

TransAlta Corporation operates as non-regulated electricity generation and energy marketing company in Canada, the United States, and Western Australia. It operates through eight segments: Canadian Coal, U.S. Coal, Canadian Gas, Australian Gas, Wind and Solar, Hydro, Energy Marketing, and Corporate. The company generates and markets electricity through various generation fuels, such as coal, natural gas, water, solar, and wind.

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