Investment Analysts’ Weekly Ratings Changes for TransAlta (TAC)

TransAlta (NYSE: TAC) recently received a number of ratings updates from brokerages and research firms:

  • 11/16/2021 – TransAlta was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “TransAlta is Canada’s largest non-regulated electric generation and marketing company. “
  • 11/13/2021 – TransAlta was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $12.00 price target on the stock. According to Zacks, “TransAlta is Canada’s largest non-regulated electric generation and marketing company. “
  • 11/11/2021 – TransAlta had its price target raised by analysts at National Bank Financial from $13.00 to $14.00. They now have a “sector perform” rating on the stock.
  • 11/11/2021 – TransAlta had its price target raised by analysts at National Bankshares, Inc. from C$13.00 to C$14.00. They now have a “sector perform” rating on the stock.
  • 11/10/2021 – TransAlta had its price target raised by analysts at BMO Capital Markets from C$16.00 to C$17.00. They now have an “outperform” rating on the stock.
  • 11/10/2021 – TransAlta had its price target raised by analysts at CIBC from C$16.00 to C$16.50. They now have an “outperform” rating on the stock.
  • 11/10/2021 – TransAlta had its price target raised by analysts at Royal Bank of Canada from C$14.00 to C$17.00. They now have an “outperform” rating on the stock.
  • 11/10/2021 – TransAlta had its price target raised by analysts at Scotiabank from C$16.00 to C$16.50. They now have an “outperform” rating on the stock.
  • 11/10/2021 – TransAlta had its price target raised by analysts at TD Securities from C$16.50 to C$17.50. They now have a “buy” rating on the stock.
  • 11/1/2021 – TransAlta had its price target lowered by analysts at Credit Suisse Group AG from C$18.00 to C$17.50. They now have an “outperform” rating on the stock.
  • 10/13/2021 – TransAlta was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “TransAlta is Canada’s largest non-regulated electric generation and marketing company. “
  • 10/12/2021 – TransAlta was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $12.00 price target on the stock. According to Zacks, “TransAlta is Canada’s largest non-regulated electric generation and marketing company. “
  • 9/29/2021 – TransAlta had its price target raised by analysts at CIBC from C$15.00 to C$16.00. They now have an “outperform” rating on the stock.

NYSE:TAC opened at $10.49 on Thursday. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.57 and a quick ratio of 1.58. The company’s 50-day simple moving average is $10.64. TransAlta Co. has a twelve month low of $6.80 and a twelve month high of $11.80. The stock has a market cap of $2.84 billion, a P/E ratio of -5.44 and a beta of 1.18.

TransAlta (NYSE:TAC) (TSE:TA) last issued 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). The firm had revenue of $675.10 million for the quarter. TransAlta had a positive return on equity of 5.17% and a negative net margin of 23.44%. During the same period in the previous year, the business posted ($0.37) EPS. As a group, sell-side analysts predict that TransAlta Co. will post 0.08 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Saturday, January 1st. Stockholders of record on Wednesday, December 1st will be issued a dividend of $0.04 per share. The ex-dividend date is Tuesday, November 30th. This is an increase from TransAlta’s previous quarterly dividend of $0.04. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.53%. TransAlta’s payout ratio is -7.25%.

Several hedge funds and other institutional investors have recently modified their holdings of TAC. Geode Capital Management LLC grew its holdings in shares of TransAlta by 31.1% during the first quarter. Geode Capital Management LLC now owns 66,531 shares of the utilities provider’s stock worth $629,000 after buying an additional 15,774 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of TransAlta in the first quarter worth approximately $96,000. Man Group plc acquired a new stake in shares of TransAlta in the first quarter worth approximately $464,000. Versor Investments LP acquired a new stake in shares of TransAlta in the second quarter worth approximately $279,000. Finally, Waratah Capital Advisors Ltd. boosted its position in shares of TransAlta by 130.8% in the second quarter. Waratah Capital Advisors Ltd. now owns 331,932 shares of the utilities provider’s stock worth $3,307,000 after acquiring an additional 188,087 shares during the last quarter. Institutional investors and hedge funds own 59.57% of the company’s stock.

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.

Further Reading: Equity Income

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