TD Securities Cuts TransAlta (NYSE:TAC) Price Target to C$17.00

TransAlta (NYSE:TAC) (TSE:TA) had its price objective reduced by TD Securities from C$17.50 to C$17.00 in a report issued on Wednesday, The Fly reports.

A number of other equities research analysts also recently weighed in on TAC. National Bank Financial lifted their price target on shares of TransAlta from $13.00 to $14.00 and gave the company a sector perform rating in a research report on Thursday, November 11th. National Bankshares boosted their target price on shares of TransAlta from C$13.00 to C$14.00 and gave the stock a sector perform rating in a research note on Thursday, November 11th. Scotiabank boosted their target price on shares of TransAlta from C$16.00 to C$16.50 and gave the stock an outperform rating in a research note on Wednesday, November 10th. BMO Capital Markets boosted their target price on shares of TransAlta from C$16.00 to C$17.00 and gave the stock an outperform rating in a research note on Wednesday, November 10th. Finally, CIBC boosted their target price on shares of TransAlta from C$16.50 to C$17.00 in a research note on Tuesday. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Buy and an average price target of $15.90.

TransAlta stock opened at $10.27 on Wednesday. TransAlta has a 52 week low of $7.96 and a 52 week high of $12.13. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.44 and a current ratio of 1.57. The stock has a market capitalization of $2.78 billion, a P/E ratio of -5.32 and a beta of 1.17. The stock has a 50-day simple moving average of $10.73 and a 200 day simple moving average of $10.39.

TransAlta (NYSE:TAC) (TSE:TA) last posted its quarterly earnings results on Tuesday, November 9th. The utilities provider reported ($1.35) EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($1.51). TransAlta had a positive return on equity of 5.17% and a negative net margin of 23.44%. The business had revenue of $675.10 million for the quarter. During the same period in the prior year, the firm earned ($0.37) EPS. Research analysts forecast that TransAlta will post -1.43 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, April 1st. Shareholders of record on Tuesday, March 1st will be given a dividend of $0.039 per share. The ex-dividend date of this dividend is Monday, February 28th. This represents a $0.16 dividend on an annualized basis and a yield of 1.52%. TransAlta’s dividend payout ratio (DPR) is currently -8.29%.

A number of institutional investors and hedge funds have recently modified their holdings of the business. CIBC Asset Management Inc boosted its position in TransAlta by 19.7% during the third quarter. CIBC Asset Management Inc now owns 10,220,550 shares of the utilities provider’s stock valued at $107,230,000 after acquiring an additional 1,682,492 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in TransAlta by 119.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 6,082,958 shares of the utilities provider’s stock valued at $64,181,000 after acquiring an additional 3,316,129 shares during the last quarter. TD Asset Management Inc. boosted its position in TransAlta by 0.9% during the third quarter. TD Asset Management Inc. now owns 4,428,177 shares of the utilities provider’s stock valued at $46,769,000 after acquiring an additional 39,077 shares during the last quarter. Toronto Dominion Bank raised its holdings in shares of TransAlta by 1.6% during the third quarter. Toronto Dominion Bank now owns 4,066,326 shares of the utilities provider’s stock valued at $42,953,000 after purchasing an additional 64,754 shares during the period. Finally, Mackenzie Financial Corp raised its holdings in shares of TransAlta by 20.2% during the third quarter. Mackenzie Financial Corp now owns 3,397,293 shares of the utilities provider’s stock valued at $35,829,000 after purchasing an additional 571,634 shares during the period. 61.59% of the stock is currently owned by institutional investors and hedge funds.

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.

Featured Story: Insider Trading – What You Need to Know

The Fly logo

Analyst Recommendations for TransAlta (NYSE:TAC)

Receive News & Ratings for TransAlta Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TransAlta and related companies with MarketBeat.com's FREE daily email newsletter.