TransAlta Co. (TSE:TA) Receives C$18.36 Consensus PT from Analysts

TransAlta Co. (TSE:TA) (NYSE:TAC) has earned a consensus rating of “Moderate Buy” from the six analysts that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is C$18.36.

TA has been the subject of several research analyst reports. Cibc World Mkts raised shares of TransAlta from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. TD Securities increased their price objective on shares of TransAlta from C$18.00 to C$19.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. CIBC raised TransAlta from a “neutral” rating to an “outperform” rating and cut their target price for the company from C$23.00 to C$19.50 in a research report on Tuesday, February 18th. Scotiabank lowered TransAlta from an “outperform” rating to a “sector perform” rating and raised their price target for the stock from C$19.00 to C$21.00 in a research report on Thursday, January 30th. Finally, BMO Capital Markets lifted their price objective on TransAlta from C$17.00 to C$22.00 in a research note on Monday, December 16th.

Insiders Place Their Bets

In other news, Senior Officer Joel E. Hunter bought 45,000 shares of TransAlta stock in a transaction that occurred on Thursday, February 27th. The shares were purchased at an average price of C$14.99 per share, with a total value of C$674,752.50. Insiders own 0.21% of the company’s stock.

TransAlta Stock Performance

TSE TA opened at C$13.54 on Friday. The stock has a fifty day simple moving average of C$14.93 and a 200-day simple moving average of C$15.74. 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 cap of C$4.07 billion, a PE ratio of 19.30, a P/E/G ratio of -0.07 and a beta of 0.93. TransAlta has a twelve month low of C$8.22 and a twelve month high of C$21.22.

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.