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

TransAlta Co. (TSE:TA) (NYSE:TAC) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred 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 Analysts Forecast Growth

Several equities research analysts recently commented on TA shares. National Bankshares boosted their price target on shares of TransAlta from C$14.00 to C$15.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. CIBC cut their price objective on 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, According to MarketBeat, the company has an average rating of “Buy” and an average target price of C$15.29.

TransAlta Stock Performance

The stock has a market cap of C$3.54 billion, a PE ratio of 6.25, a PEG ratio of -0.07 and a beta of 0.90. The company has a debt-to-equity ratio of 219.87, a current ratio of 0.84 and a quick ratio of 0.62. The firm has a 50 day moving average of C$10.53 and a two-hundred day moving average of C$9.70.

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

TransAlta Announces Dividend

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

Insider Buying and Selling at TransAlta

In other TransAlta news, Senior Officer Blain Mitchell Van Melle sold 10,000 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of C$9.67, for a total transaction 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 TransAlta stock in a transaction 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 the last 90 days, insiders have sold 130,211 shares of company stock valued at $1,410,404. 0.20% of the stock is owned by corporate 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.