Stocks of TransAlta Corporation (NYSE:TAC) traded higher last session on Wall Street, down -0.21% to $9.57.
According to the data, TransAlta Corporation (NYSE:TAC) has 11 analysts covering its stock. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $14.97 and a low of $10.29, we find $12.67. Given the previous closing price of $9.59, this indicates a potential upside of 32.12 percent. TAC stock price is now -2.60% away from the 50-day moving average and 2.97% away from the 200-day moving average. The market capitalization of the company currently stands at $2.53B.
A total of 2 analysts have issued a hold rating and 9 have given it a buy rating. Brokers who have rated the stock have averaged $12.40 as their price target over the next twelve months.
A total of 0.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in TAC stock. A new stake in TransAlta Corporation shares was purchased by CALDWELL INVESTMENT MANAGEMENT LTD. during the first quarter worth $6,795,000. TWO SIGMA INVESTMENTS, LP invested $1,459,000 in shares of TAC during the first quarter. In the first quarter, TWO SIGMA ADVISERS, LP acquired a new stake in TransAlta Corporation valued at approximately $1,239,000. AVENTAIL CAPITAL GROUP, LP acquired a new stake in TAC for approximately $1,214,000. CUBIST SYSTEMATIC STRATEGIES, LLC purchased a new stake in TAC valued at around $624,000 in the second quarter. In total, there are 189 active investors with 61.70% ownership of the company’s stock.
Friday’s opening bell rang with an opening price of $9.61 for TransAlta Corporation (NYSE: TAC). During the past 12 months, TransAlta Corporation has had a low of $7.55 and a high of $10.40. As of last week, the company has a debt-to-equity ratio of 8.13, a current ratio of 1.70, and a quick ratio of 1.50. According to the stock market information, the enterprise value for the company is $5.19B, which is based on a 13.54 price-to-earnings ratio, a 1.09 price-to-earnings-growth ratio, and a beta of 1.03. The fifty day moving average price for TAC is $9.82 and a two-hundred day moving average price translates $9.30 for the stock.
The latest earnings results from TransAlta Corporation (NYSE: TAC) was released for Jun, 2023. According to the Utilities – Independent Power Producers Company, earnings per share came in at $0.17, beating analysts’ expectations of $0.13 by 0.04. This compares to -$0.23 EPS in the same period last year. The net profit margin was 7.30% and return on equity was 58.40% for TAC. The company reported revenue of $464.88 million for the quarter, compared to $358.66 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 29.61 percent. For the current quarter, analysts expect TAC to generate $518.55M in revenue.
In terms of dividend payout ratio, TAC is presently at 30.40%.
TransAlta Corporation(TAC) Company Profile
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 has a net ownership interest of approximately 922 megawatts (MW) of owned hydro electrical-generating capacity located in Alberta, British Columbia, and Ontario. The Wind and Solar segment has a net ownership interest of approximately 1,878 MW of owned wind and solar electrical-generating capacity, as well as battery storage facilities located in Alberta, Ontario, New Brunswick, and Québec in Canada; and the states of Massachusetts, Minnesota, New Hampshire, North Carolina, Pennsylvania, Washington, and Wyoming in the United States. The Gas segment has a net ownership interest of approximately 2,775 MW of owned gas electrical-generating capacity, and facilities located in Alberta and Ontario in Canada; Michigan, the United States; and Western Australia. The Energy Transition segment has a net ownership interest of approximately 671 MW of owned coal electrical-generating capacity, as well as operates the Skookumchuck hydro facility in Centralia; and engages in the highvale mine and the mine reclamation activities. The Energy Marketing segment is involved in the trading of power, natural gas, and environmental products. It serves customers in various industry segments, including commercial real estate, municipal, manufacturing, industrial, hospitality, finance, and oil and gas. The company was founded in 1909 and is headquartered in Calgary, Canada.
