Brokerages Set TransAlta Co. (TSE:TA) PT at C$22.89

Shares of TransAlta Co. (TSE:TA) (NYSE:TAC) have been given a consensus rating of “Buy” by the nine brokerages that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is C$23.33.

TA has been the subject of several research analyst reports. Desjardins raised their price objective on shares of TransAlta from C$16.50 to C$21.00 and gave the stock a “hold” rating in a report on Wednesday, October 22nd. CIBC increased their price objective on TransAlta from C$20.00 to C$26.00 and gave the stock an “outperform” rating in a report on Monday, October 20th. TD Securities dropped their target price on shares of TransAlta from C$27.00 to C$26.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Scotiabank increased their price target on shares of TransAlta from C$23.00 to C$27.00 and gave the stock an “outperform” rating in a research note on Monday, October 20th. Finally, Royal Bank Of Canada lifted their price target on shares of TransAlta from C$20.00 to C$24.00 in a research report on Monday.

TransAlta Stock Performance

Shares of TA stock opened at C$21.38 on Monday. The firm has a market capitalization of C$6.34 billion, a price-to-earnings ratio of -33.41, a PEG ratio of -0.07 and a beta of 0.74. The stock has a fifty day moving average of C$20.94 and a 200 day moving average of C$17.08. TransAlta has a 52 week low of C$11.16 and a 52 week high of C$25.03. The company has a quick ratio of 0.62, a current ratio of 0.74 and a debt-to-equity ratio of 229.66.

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.