TransAlta (TSE:TA) Stock Price Crosses Above 200-Day Moving Average of $9.70

Shares of TransAlta Co. (TSE:TA) (NYSE:TAC) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$9.70 and traded as high as C$11.97. TransAlta shares last traded at C$11.87, with a volume of 409,729 shares trading hands.

Wall Street Analyst Weigh In

TA has been the subject of a number of recent research reports. CIBC reduced their target price on shares of TransAlta from C$16.50 to C$15.50 and set an “outperform” rating for the company in a report on Monday, July 22nd. National Bankshares lifted their price objective on shares of TransAlta from C$14.00 to C$15.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of C$15.29.

TransAlta Stock Performance

The company has a quick ratio of 0.62, a current ratio of 0.84 and a debt-to-equity ratio of 219.87. The company has a market capitalization of C$3.54 billion, a PE ratio of 6.25, a PEG ratio of -0.07 and a beta of 0.90. The business has a 50 day simple moving average of C$10.53 and a 200 day simple moving average of C$9.71.

TransAlta (TSE:TA) (NYSE:TAC) last posted its quarterly earnings data on Thursday, August 1st. The company reported C$0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.07 by C$0.11. The firm had revenue of C$582.00 million for the quarter. TransAlta had a net margin of 19.50% and a return on equity of 32.01%. Equities research analysts predict that TransAlta Co. will post 0.906535 EPS for the current fiscal year.

TransAlta Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Sunday, September 1st will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.02%. TransAlta’s dividend payout ratio is currently 12.63%.

Insider Activity

In related news, Senior Officer Blain Mitchell Van Melle sold 10,000 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of C$9.67, for a total value of C$96,700.00. In related news, Senior Officer Blain Mitchell Van Melle sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of C$9.67, for a total value of C$96,700.00. Also, Senior Officer Kerry Lynn O’reilly sold 48,833 shares of the 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 transaction of C$536,674.67. Insiders have sold 130,211 shares of company stock valued at $1,410,404 over the last ninety days. 0.20% of the stock is currently owned by insiders.

TransAlta 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 holds interest of approximately 922 megawatts (MW) of owned hydroelectric generating capacity located in Alberta, British Columbia, and Ontario.