TransAlta Co. (TSE:TA) Given Consensus Recommendation of "Buy" by Brokerages

Key Points

• TransAlta Co. has received a consensus rating of "Buy" from nine brokerages, with one hold rating, six buy ratings, and two strong buy ratings.
• The average twelve-month price target for TransAlta's stock is C$19.22, with recent upgrades increasing targets to as high as C$20.00.
• TransAlta operates a diverse portfolio of electrical power generation assets across Canada, the United States, and Australia, focusing on various energy sources including hydro, wind, and solar.

Shares of TransAlta Co. (TSE:TA - Get Free Report) NYSE: TAC have been assigned an average recommendation of "Buy" from the nine analysts that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is C$19.22.

A number of equities research analysts have weighed in on the company. CIBC raised their price target on TransAlta from C$18.50 to C$20.00 in a research report on Thursday, July 10th. TD Securities raised their price objective on TransAlta from C$19.00 to C$20.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Scotiabank raised TransAlta from a "hold" rating to a "strong-buy" rating and raised their price objective for the company from C$16.00 to C$20.00 in a report on Friday, July 18th. ATB Capital raised their price objective on TransAlta from C$18.00 to C$20.00 and gave the company an "outperform" rating in a report on Tuesday, August 5th. Finally, National Bankshares raised their price objective on TransAlta from C$16.00 to C$17.00 and gave the company an "outperform" rating in a report on Tuesday, August 5th.

TransAlta Price Performance

Shares of TSE:TA traded down C$0.25 on Friday, hitting C$18.90. The company's stock had a trading volume of 293,208 shares, compared to its average volume of 1,734,526. The company has a 50-day simple moving average of C$17.07 and a 200 day simple moving average of C$14.69. TransAlta has a 1 year low of C$11.16 and a 1 year high of C$21.22. The company has a debt-to-equity ratio of 229.66, a current ratio of 0.74 and a quick ratio of 0.62. The company has a market capitalization of C$5.60 billion, a PE ratio of -35.00, a PEG ratio of -0.07 and a beta of 0.65.

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.