TransAlta (TSE:TA) Stock Crosses Above 200-Day Moving Average – What’s Next?

TransAlta Co. (TSE:TA) (NYSE:TAC) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$11.37 and traded as high as C$14.78. TransAlta shares last traded at C$14.47, with a volume of 1,040,118 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Royal Bank of Canada lifted their price objective on TransAlta from C$14.00 to C$16.00 in a research note on Wednesday, November 6th. Desjardins cut shares of TransAlta from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, November 5th. 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 report on Monday, July 22nd. BMO Capital Markets boosted their target price on shares of TransAlta from C$16.00 to C$17.00 in a report on Thursday, September 5th. Finally, TD Securities increased their price target on shares of TransAlta from C$16.00 to C$18.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, TransAlta presently has an average rating of “Moderate Buy” and an average price target of C$16.17.

TransAlta Trading Down 0.7 %

The stock’s 50-day moving average price is C$13.72 and its 200 day moving average price is C$11.37. 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 market capitalization of C$4.31 billion, a PE ratio of 7.62, a price-to-earnings-growth ratio of -0.07 and a beta of 0.93.

TransAlta Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Sunday, December 1st will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.24 annualized dividend and a dividend yield of 1.66%. TransAlta’s payout ratio is currently 12.63%.

Insider Buying and Selling at TransAlta

In other news, Senior Officer Jane Nyla Fedoretz sold 20,000 shares of the business’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of C$13.92, for a total value of C$278,400.00. 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.