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

TransAlta Co. (TSE:TA) (NYSE:TAC) announced a quarterly dividend on Wednesday, April 24th, Zacks reports. Shareholders of record on Saturday, June 1st will be given a dividend of 0.06 per share on Monday, July 1st. This represents a $0.24 annualized dividend and a yield of 2.58%. The ex-dividend date is Friday, May 31st.

TransAlta Stock Performance

Shares of TSE:TA opened at C$9.32 on Friday. The company has a market cap of C$2.87 billion, a price-to-earnings ratio of 4.00, a price-to-earnings-growth ratio of -0.07 and a beta of 0.89. The company has a 50-day moving average price of C$8.92 and a 200-day moving average price of C$10.04. The company has a current ratio of 0.91, a quick ratio of 0.62 and a debt-to-equity ratio of 253.18. TransAlta has a 12 month low of C$8.22 and a 12 month high of C$13.97.

TransAlta (TSE:TA) (NYSE:TAC) last issued its quarterly earnings data on Friday, February 23rd. The company reported C($0.27) EPS for the quarter, missing the consensus estimate of C$0.18 by C($0.45). The firm had revenue of C$624.00 million for the quarter. TransAlta had a net margin of 20.71% and a return on equity of 43.58%. As a group, equities analysts anticipate that TransAlta will post 0.4700714 EPS for the current year.

Wall Street Analyst Weigh In

TA has been the topic of several research analyst reports. BMO Capital Markets reduced their price target on shares of TransAlta from C$17.00 to C$16.00 and set an “outperform” rating on the stock in a research report on Monday, February 26th. CIBC cut their price objective on shares of TransAlta from C$18.50 to C$16.00 and set an “outperform” rating on the stock in a report on Friday, April 19th. National Bankshares cut their price objective on shares of TransAlta from C$14.00 to C$13.00 and set an “outperform” rating on the stock in a report on Tuesday, January 30th. Royal Bank of Canada cut their price objective on shares of TransAlta from C$15.00 to C$14.00 and set an “outperform” rating on the stock in a report on Monday, February 26th. Finally, TD Securities cut their price objective on shares of TransAlta from C$15.00 to C$14.00 and set a “buy” rating on the stock in a report on Monday, February 26th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of C$15.55.

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.