BMO Capital Markets Raises TransAlta (TSE:TA) Price Target to C$22.00

TransAlta (TSE:TA) (NYSE:TAC) had its target price upped by equities researchers at BMO Capital Markets from C$17.00 to C$22.00 in a report released on Monday,BayStreet.CA reports. BMO Capital Markets’ target price would indicate a potential upside of 7.06% from the stock’s previous close.

TA has been the topic of a number of other reports. Royal Bank of Canada raised their price target on TransAlta from C$14.00 to C$16.00 in a research note on Wednesday, November 6th. TD Securities raised their price target on TransAlta from C$16.00 to C$18.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Desjardins cut TransAlta from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 5th. National Bankshares raised their price objective on TransAlta from C$14.00 to C$15.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Finally, Scotiabank raised TransAlta to a “strong-buy” rating in a report on Thursday, December 5th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, TransAlta presently has an average rating of “Buy” and a consensus price target of C$17.00.

TransAlta Stock Up 3.5 %

Shares of TSE TA opened at C$20.55 on Monday. The stock has a market cap of C$6.13 billion, a P/E ratio of 10.35, a PEG ratio of -0.07 and a beta of 0.93. The company has a current ratio of 0.84, a quick ratio of 0.62 and a debt-to-equity ratio of 219.87. TransAlta has a 12-month low of C$8.22 and a 12-month high of C$20.59. The business’s fifty day simple moving average is C$15.23 and its 200-day simple moving average is C$12.42.

Insider Activity

In related news, Senior Officer Jane Nyla Fedoretz sold 25,000 shares of TransAlta stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of C$15.11, for a total transaction of C$377,750.00. Also, Director John Harry Kousinioris sold 69,982 shares of TransAlta stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of C$15.15, for a total value of C$1,060,227.30. In the last three months, insiders sold 189,584 shares of company stock worth $3,027,809. Company insiders own 0.21% of the company’s stock.

About TransAlta

TransAlta Corporation engages in the development, production, and sale of electric energy. It operates through Hydro, Wind and Solar, Gas, Energy Transition, and Energy Marketing segments. The Hydro segment holds interest of approximately 922 megawatts (MW) of owned hydroelectric generating capacity located in Alberta, British Columbia, and Ontario.