TransAlta (NYSE:TAC) Price Target Raised to $14.50 at Scotiabank

TransAlta (NYSE:TAC) (TSE:TA) had its target price upped by equities research analysts at Scotiabank from $13.50 to $14.50 in a research note issued to investors on Friday, The Fly reports. The brokerage currently has an “outperform” rating on the utilities provider’s stock. Scotiabank’s target price indicates a potential upside of 47.81% from the stock’s current price.

Several other research analysts have also issued reports on the company. TD Securities raised their price target on TransAlta from $11.00 to $12.50 and gave the stock a “buy” rating in a research report on Thursday, March 4th. CIBC upgraded TransAlta from a “neutral” rating to an “outperform” rating in a report on Wednesday, January 13th. Zacks Investment Research lowered TransAlta from a “hold” rating to a “sell” rating in a report on Friday, March 5th. Royal Bank of Canada lifted their target price on TransAlta from $11.00 to $13.00 and gave the stock an “outperform” rating in a report on Thursday, March 4th. Finally, Credit Suisse Group lifted their target price on TransAlta from $17.50 to $18.50 and gave the stock an “outperform” rating in a report on Friday, March 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $11.64.

Shares of NYSE:TAC traded down $0.02 during midday trading on Friday, hitting $9.81. The company had a trading volume of 6,611 shares, compared to its average volume of 283,961. TransAlta has a 12 month low of $5.05 and a 12 month high of $9.97. The company has a current ratio of 1.13, a quick ratio of 0.92 and a debt-to-equity ratio of 0.90. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of -44.59 and a beta of 1.20. The firm has a fifty day simple moving average of $9.12 and a 200 day simple moving average of $7.86.

TransAlta (NYSE:TAC) (TSE:TA) last posted its quarterly earnings results on Tuesday, March 2nd. The utilities provider reported ($0.61) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.62). TransAlta had a negative return on equity of 4.95% and a negative net margin of 2.23%. The company had revenue of $417.45 million during the quarter. Equities analysts forecast that TransAlta will post -0.31 EPS for the current fiscal year.

Institutional investors have recently modified their holdings of the company. Great West Life Assurance Co. Can lifted its holdings in shares of TransAlta by 19.4% in the third quarter. Great West Life Assurance Co. Can now owns 45,758 shares of the utilities provider’s stock valued at $293,000 after purchasing an additional 7,434 shares in the last quarter. Schonfeld Strategic Advisors LLC lifted its holdings in shares of TransAlta by 557.6% in the third quarter. Schonfeld Strategic Advisors LLC now owns 160,499 shares of the utilities provider’s stock valued at $987,000 after purchasing an additional 136,093 shares in the last quarter. Credit Suisse AG lifted its holdings in shares of TransAlta by 1.2% in the fourth quarter. Credit Suisse AG now owns 279,908 shares of the utilities provider’s stock valued at $2,124,000 after purchasing an additional 3,437 shares in the last quarter. Brookfield Asset Management Inc. lifted its holdings in shares of TransAlta by 1.0% in the fourth quarter. Brookfield Asset Management Inc. now owns 33,512,585 shares of the utilities provider’s stock valued at $254,491,000 after purchasing an additional 333,190 shares in the last quarter. Finally, Matarin Capital Management LLC bought a new stake in shares of TransAlta in the third quarter valued at about $629,000. Institutional investors own 58.13% of the company’s stock.

TransAlta Company Profile

TransAlta Corporation operates as non-regulated electricity generation and energy marketing company in Canada, the United States, and Western Australia. It operates through Canadian Coal, U.S. Coal, Canadian Gas, Australian Gas, Wind and Solar, Hydro, and Energy Marketing segments. The company generates and markets electricity through various generation fuels, such as coal, natural gas, water, solar, and wind.

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