TransAlta (TSE:TA) Reaches New 52-Week High – Time to Buy?

Shares of TransAlta Co. (TSE:TA) (NYSE:TAC) hit a new 52-week high during trading on Wednesday . The company traded as high as C$15.39 and last traded at C$15.24, with a volume of 49615 shares traded. The stock had previously closed at C$15.29.

Wall Street Analyst Weigh In

TA has been the topic of several recent research reports. Desjardins lowered TransAlta from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 5th. TD Securities boosted their price target on shares of TransAlta from C$16.00 to C$18.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. National Bankshares raised their price objective on shares of TransAlta from C$14.00 to C$15.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Royal Bank of Canada lifted their target price on shares of TransAlta from C$14.00 to C$16.00 in a research report on Wednesday, November 6th. Finally, BMO Capital Markets increased their price target on shares of TransAlta from C$16.00 to C$17.00 in a research report on Thursday, September 5th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, TransAlta has a consensus rating of “Moderate Buy” and a consensus price target of C$16.17.

TransAlta Trading Up 1.0 %

The firm has a market cap of C$4.61 billion, a P/E ratio of 8.05, a price-to-earnings-growth ratio of -0.07 and a beta of 0.93. The company has a current ratio of 0.84, a quick ratio of 0.62 and a debt-to-equity ratio of 219.87. The company’s fifty day moving average price is C$14.14 and its two-hundred day moving average price is C$11.70.

TransAlta Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Sunday, December 1st will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend is Friday, November 29th. TransAlta’s payout ratio is 12.63%.

Insider Activity

In related news, Director John Harry Kousinioris sold 69,982 shares of TransAlta stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of C$15.15, for a total value of C$1,060,227.30. Also, Senior Officer Jane Nyla Fedoretz sold 25,000 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of C$15.11, for a total transaction of C$377,750.00. Over the last 90 days, insiders sold 114,988 shares of company stock worth $1,716,451. Insiders own 0.21% of the company’s stock.

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.