TransAlta (NYSE:TAC) (TSE:TA)’s stock had its “buy” rating reissued by equities research analysts at ATB Capital in a note issued to investors on Friday, AnalystRatings.com reports. They currently have a C$17.00 target price on the utilities provider’s stock.
TAC has been the topic of a number of other research reports. Zacks Investment Research cut shares of TransAlta from a “buy” rating to a “hold” rating in a research note on Tuesday, November 16th. Credit Suisse Group decreased their target price on TransAlta from C$18.00 to C$17.50 and set an “outperform” rating on the stock in a research report on Monday, November 1st. National Bank Financial increased their target price on TransAlta from $13.00 to $14.00 and gave the company a “sector perform” rating in a research report on Thursday, November 11th. BMO Capital Markets increased their target price on TransAlta from C$16.00 to C$17.00 and gave the company an “outperform” rating in a research report on Wednesday, November 10th. Finally, TD Securities increased their target price on TransAlta from C$16.50 to C$17.50 and gave the company a “buy” rating in a research report on Wednesday, November 10th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $15.90.
Shares of NYSE:TAC opened at $11.10 on Friday. TransAlta has a twelve month low of $7.08 and a twelve month high of $11.80. The company’s 50 day moving average is $10.80 and its 200 day moving average is $10.25. The company has a current ratio of 1.57, a quick ratio of 1.44 and a debt-to-equity ratio of 1.74. The company has a market cap of $3.01 billion, a PE ratio of -5.75 and a beta of 1.16.
TransAlta (NYSE:TAC) (TSE:TA) last issued its quarterly earnings results on Tuesday, November 9th. The utilities provider reported ($1.35) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($1.51). The business had revenue of $675.10 million during the quarter. TransAlta had a positive return on equity of 5.17% and a negative net margin of 23.44%. During the same quarter in the previous year, the business posted ($0.37) EPS. Equities research analysts predict that TransAlta will post -1.38 earnings per share for the current fiscal year.
A number of hedge funds have recently made changes to their positions in the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of TransAlta by 97.6% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 523,156 shares of the utilities provider’s stock worth $5,211,000 after acquiring an additional 258,366 shares during the period. O Shaughnessy Asset Management LLC raised its holdings in shares of TransAlta by 277,972.4% during the 2nd quarter. O Shaughnessy Asset Management LLC now owns 80,641 shares of the utilities provider’s stock worth $804,000 after acquiring an additional 80,612 shares during the period. Deutsche Bank AG raised its holdings in shares of TransAlta by 492.5% during the 2nd quarter. Deutsche Bank AG now owns 247,719 shares of the utilities provider’s stock worth $2,473,000 after acquiring an additional 205,912 shares during the period. Mackenzie Financial Corp raised its holdings in shares of TransAlta by 5.6% during the 2nd quarter. Mackenzie Financial Corp now owns 2,825,659 shares of the utilities provider’s stock worth $28,125,000 after acquiring an additional 149,806 shares during the period. Finally, Roosevelt Investment Group LLC increased its position in shares of TransAlta by 44.3% during the 2nd quarter. Roosevelt Investment Group LLC now owns 73,431 shares of the utilities provider’s stock worth $733,000 after purchasing an additional 22,552 shares during the last quarter. Institutional investors own 59.57% of the company’s stock.
TransAlta Company Profile
TransAlta Corp. engages in the generation and distribution of electricity through wind, hydro, gas and coal power plants. It operates through the following business segments: Canadian Coal, U.S. Coal, Canadian Gas, Australian Gas, Wind & Solar, Hydro, Energy Marketing and Corporate. The Canadian Coal, U.S.