Key Points
- TransAlta insider Michael Politeski bought 10,000 shares on May 13 at an average price of C$17.24, increasing his direct holdings to 55,000 shares worth about C$948,200.
- The purchase came as TransAlta shares rose 1.8%; the stock opened at C$17.78 and has traded between C$12.12 and C$25.03 over the past year.
- Analysts remain generally positive on the company, with seven Buy ratings and one Hold, giving TransAlta a consensus rating of Moderate Buy and an average price target of C$24.44.
TransAlta Co. (TSE:TA - Get Free Report) (NYSE:TAC) insider Michael Politeski bought 10,000 shares of TransAlta stock in a transaction dated Wednesday, May 13th. The shares were bought at an average cost of C$17.24 per share, with a total value of C$172,400.00. Following the completion of the transaction, the insider directly owned 55,000 shares in the company, valued at approximately C$948,200. This trade represents a 22.22% increase in their ownership of the stock.
TransAlta Stock Up 1.8%
TransAlta stock opened at C$17.78 on Friday. TransAlta Co. has a twelve month low of C$12.12 and a twelve month high of C$25.03. The firm has a 50 day moving average price of C$17.68 and a 200-day moving average price of C$18.55. The company has a market capitalization of C$5.29 billion, a P/E ratio of -23.71, a P/E/G ratio of -0.07 and a beta of 0.54. The company has a quick ratio of 0.62, a current ratio of 0.76 and a debt-to-equity ratio of 317.20.
TransAlta (TSE:TA - Get Free Report) (NYSE:TAC) last released its earnings results on Wednesday, May 6th. The company reported C$0.06 earnings per share for the quarter. TransAlta had a negative net margin of 7.73% and a negative return on equity of 11.56%. The firm had revenue of C$560.00 million during the quarter.
Analyst Upgrades and Downgrades
A number of research analysts have recently weighed in on the stock. TD reduced their target price on shares of TransAlta from C$27.00 to C$26.00 and set a "buy" rating for the company in a research report on Thursday, May 7th. ATB Cormark Capital Markets increased their target price 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. Desjardins reduced their target price 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. 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 report on Tuesday, March 24th. Finally, Jefferies Financial Group cut their price objective on shares of TransAlta from C$27.00 to C$22.00 in a report on Wednesday, January 21st. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of C$24.44.
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About TransAlta
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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.
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