TransAlta (TSE:TA) Stock Passes Above Two Hundred Day Moving Average – Should You Sell?

TransAlta Co. (TSE:TA) (NYSE:TAC) passed 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.

Wall Street Analysts Forecast Growth

TA has been the topic of several recent analyst reports. CIBC dropped their price target on TransAlta from C$16.50 to C$15.50 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. BMO Capital Markets boosted their price objective on TransAlta from C$16.00 to C$17.00 in a research report on Thursday, September 5th. Finally, National Bankshares boosted their price objective 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. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, TransAlta has an average rating of “Buy” and an average target price of C$15.43.

TransAlta Stock Up 0.6 %

The business has a 50-day simple moving average of C$12.55 and a two-hundred day simple moving average of C$10.58. The stock has a market capitalization of C$4.23 billion, a P/E ratio of 7.47, a PEG ratio of -0.07 and a beta of 0.93. The company has a quick ratio of 0.62, a current ratio of 0.84 and a debt-to-equity ratio of 219.87.

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

TransAlta Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Sunday, September 1st were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend was Friday, August 30th. TransAlta’s dividend payout ratio is currently 12.63%.

Insiders Place Their Bets

In other TransAlta news, Senior Officer Kerry Lynn O’reilly sold 48,833 shares of the business’s 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 other news, Senior Officer Jane Nyla Fedoretz sold 20,000 shares of the company’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of C$13.92, for a total transaction of C$278,400.00. Also, Senior Officer Kerry Lynn O’reilly sold 48,833 shares of the company’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. Over the last quarter, insiders have sold 120,217 shares of company stock valued at $1,397,220. 0.21% of the stock is currently 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.