TransAlta (TSE:TA) Given New C$23.00 Price Target at National Bank Financial

TransAlta (TSE:TA) (NYSE:TAC) had its price objective reduced by analysts at National Bank Financial from C$24.00 to C$23.00 in a research report issued on Wednesday, BayStreet reports. The brokerage currently has an “outperform” rating on the stock. National Bank Financial‘s price objective suggests a potential upside of 20.55% from the stock’s current price.

Separately, Canadian Imperial Bank of Commerce lowered their price target on TransAlta from C$26.00 to C$24.50 in a research report on Tuesday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, TransAlta has a consensus rating of “Buy” and a consensus price target of C$24.50.

TransAlta Price Performance

TSE TA traded up C$0.56 during mid-day trading on Wednesday, hitting C$19.08. The stock had a trading volume of 2,483,376 shares, compared to its average volume of 1,708,215. TransAlta has a twelve month low of C$15.62 and a twelve month high of C$24.05. The company has a debt-to-equity ratio of 238.01, a current ratio of 0.84 and a quick ratio of 0.61. The firm’s 50 day moving average is C$17.44 and its 200 day moving average is C$17.98. The stock has a market capitalization of C$6.04 billion, a price-to-earnings ratio of -61.55, a PEG ratio of -0.07 and a beta of 0.31.

TransAlta (TSE:TA) (NYSE:TAC) last posted its quarterly earnings results on Tuesday, November 3rd. The company reported C$0.18 earnings per share (EPS) for the quarter. TransAlta had a negative return on equity of 1.50% and a negative net margin of 1.02%. The business had revenue of C$536.00 million during the quarter.

Insider Activity

In related news, insider Michael Politeski purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The shares were purchased at an average price of C$16.02 per share, for a total transaction of C$80,100.00. Following the transaction, the insider directly owned 90,000 shares of the company’s stock, valued at approximately C$1,441,800. The trade was a 5.88% increase in their position. 0.21% of the stock is currently owned by corporate insiders.

More TransAlta News

Here are the key news stories impacting TransAlta this week:

• Positive Sentiment: TransAlta reported Q3 adjusted EPS of C$0.18, above the C$0.07 consensus, and net income of C$63 million versus a C$62 million loss a year earlier. The company said fleet optimization efforts are continuing. TransAlta reports Q3 adjusted EPS 18c, consensus 7c TransAlta reports $63M Q3 profit compared with $62M loss a year ago
• Neutral Sentiment: A proposed Parkland County data centre, called the Boreal Technology Hub, could require up to 1.6 GW of power. TransAlta is gathering community input, so the project could create substantial future electricity demand but remains uncertain and is not a confirmed near-term revenue source. TransAlta gathering community input on potential new Parkland County data centre
• Neutral Sentiment: The company is targeting $110 million in annual adjusted EBITDA from its Colorado acquisition; this is a forward-looking target rather than reported performance. TransAlta anticipates Boreal Technology Hub load up to 1.6 GW while targeting $110M annual adjusted EBITDA from Colorado acquisition
• Negative Sentiment: Despite the earnings improvement, quarterly revenue fell, tempering the positive profit and EPS results. Correction: TransAlta Swings to Q3 Adjusted Net Earnings, Revenue Falls

About TransAlta

TransAlta owns, operates and develops a diverse fleet of electrical power generation assets in Canada, the United States and Australia with a focus on long-term shareholder value. TransAlta provides municipalities, medium and large industries, businesses and utility customers with affordable, energy efficient and reliable power. Today, TransAlta is one of Canada’s largest producers of wind power and Alberta’s largest producer of thermal generation and hydro-electric power. For over 114 years, TransAlta has been a responsible operator and a proud member of the communities where we operate and where our employees work and live.