Brokerages Set TransAlta Co. (TSE:TA) Price Target at C$23.33

TransAlta Co. (TSE:TA) (NYSE:TAC) has been assigned a consensus recommendation of “Moderate Buy” from the ten research firms that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is C$23.33.

A number of brokerages have recently commented on TA. TD Securities dropped their price target on TransAlta from C$27.00 to C$26.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Jefferies Financial Group upped their target price on TransAlta from C$20.00 to C$27.00 and gave the stock a “buy” rating in a report on Tuesday, October 14th. Royal Bank Of Canada increased their target price on TransAlta from C$20.00 to C$24.00 in a research report on Monday, November 10th. CIBC lifted their price target on TransAlta from C$20.00 to C$26.00 and gave the company an “outperform” rating in a research note on Monday, October 20th. Finally, Scotiabank boosted their price target on TransAlta from C$23.00 to C$27.00 and gave the stock an “outperform” rating in a report on Monday, October 20th.

TransAlta Stock Down 2.2%

TA stock opened at C$19.45 on Friday. The firm has a 50-day moving average price of C$21.58 and a 200-day moving average price of C$18.00. TransAlta has a 12 month low of C$11.16 and a 12 month high of C$25.03. The company has a current ratio of 0.74, a quick ratio of 0.62 and a debt-to-equity ratio of 229.66. The stock has a market capitalization of C$5.77 billion, a P/E ratio of -30.39, a price-to-earnings-growth ratio of -0.07 and a beta of 0.67.

TransAlta (TSE:TA) (NYSE:TAC) last released its quarterly earnings data on Thursday, November 6th. The company reported C($0.02) earnings per share (EPS) for the quarter. TransAlta had a return on equity of 12.03% and a net margin of 7.49%.The company had revenue of C$674.00 million for the quarter.

About TransAlta

TransAlta is an independent power producer based in Alberta, Canada. The company operates a diverse and growing fleet of electrical power generation assets in Canada, the United States, and Australia consisting of hydro, wind, solar, battery storage, gas and energy transition facilities. The majority of the company’s revenues are derived from the sale of generation capacity, electricity, thermal energy, environmental attributes, and byproducts of power generation.