TransAlta (TSE:TA) Stock Crosses Above 200-Day Moving Average – Here’s Why

TransAlta Co. (TSE:TA) (NYSE:TAC)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$10.54 and traded as high as C$14.37. TransAlta shares last traded at C$14.20, with a volume of 2,376,499 shares traded.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on TA shares. BMO Capital Markets lifted their price objective on TransAlta from C$16.00 to C$17.00 in a research note on Thursday, September 5th. National Bankshares lifted their target price on TransAlta from C$14.00 to C$15.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Finally, CIBC lowered their price objective on shares of TransAlta from C$16.50 to C$15.50 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, TransAlta has an average rating of “Buy” and an average price target of C$15.43.

TransAlta Price Performance

The business has a 50-day simple moving average of C$12.61 and a 200-day simple moving average of C$10.62. The company has a debt-to-equity ratio of 219.87, a quick ratio of 0.62 and a current ratio of 0.84. The company has a market cap of C$4.32 billion, a price-to-earnings ratio of 7.45, a price-to-earnings-growth ratio of -0.07 and a beta of 0.93.

TransAlta (TSE:TA) (NYSE:TAC) last issued its earnings results on Thursday, August 1st. The company reported C$0.18 earnings per share for the quarter, beating the consensus estimate of C$0.07 by C$0.11. TransAlta had a net margin of 19.50% and a return on equity of 32.01%. The firm had revenue of C$582.00 million for the quarter.

TransAlta Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Sunday, September 1st were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of ∞. The ex-dividend date of this dividend was Friday, August 30th. TransAlta’s dividend payout ratio (DPR) is presently 12.63%.

Insider Buying and Selling at TransAlta

In related news, Senior Officer Kerry Lynn O’reilly sold 48,833 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of C$10.99, for a total value of C$536,674.67. In other news, Senior Officer Jane Nyla Fedoretz sold 10,000 shares of TransAlta stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of C$11.45, for a total transaction of C$114,500.00. Also, Senior Officer Kerry Lynn O’reilly sold 48,833 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of C$10.99, for a total value of C$536,674.67. Insiders have sold a total of 120,217 shares of company stock worth $1,397,220 over the last ninety days. Corporate 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.