BMO Capital Keeps Their Hold Rating on TransAlta

By Jason Carr

Yesterday, an analyst has provided a rating update for the Utilities sector company, TransAlta (TSX: TA). BMO Capital’s analyst Benjamin Pham reiterates their Hold rating on the shares, with a C$8 price target.

According to, Pham is a 5-star analyst with an average return of 9.4% and a 84.6% success rate. Pham covers the Utilities sector, focusing on stocks such as Brookfield Renewable Energy, Atlantic Power Corp, and Pattern Energy.

Currently, the analyst consensus on TransAlta is Hold and the average price target is C$7.89, representing a 4.9% upside.

In a report issued on May 8, CIBC also reiterated a Hold rating on the stock with a C$8.25 price target.

Based on TransAlta’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of C$578 million and quarterly net profit of C$0. In comparison, last year the company earned revenue of C$568 million and had a net profit of C$74 million.

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 and Solar, Hydro, Energy Marketing and Corporate. The Canadian Coal, U.S. Coal, Canadian Gas, Australian Gas, Wind and Solar, and Hydro segments are responsible for constructing, operating and maintaining its electrical generation. The Energy Marketing segment engages in marketing its production through short-term and long-term contracts. The Corporate segment deals with its central financial, legal, administrative, and investing functions. The company was founded in 1909 and is headquartered in Calgary, Canada.

The company’s shares closed last Tuesday at $7.52.