TransAlta (TSE:TA) Stock Price Crosses Above 200-Day Moving Average of $9.89

TransAlta Co. (TSE:TAGet Free Report) (NYSE:TAC) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$9.89 and traded as high as C$9.95. TransAlta shares last traded at C$9.95, with a volume of 1,050,766 shares trading hands.

Analyst Ratings Changes

A number of brokerages have weighed in on TA. Royal Bank of Canada reduced their price target on TransAlta from C$15.00 to C$14.00 and set an “outperform” rating on the stock in a research note on Monday, February 26th. TD Securities reduced their target price on TransAlta from C$15.00 to C$14.00 and set a “buy” rating on the stock in a research report on Monday, February 26th. National Bankshares lowered their price target on TransAlta from C$14.00 to C$13.00 and set an “outperform” rating for the company in a report on Tuesday, January 30th. BMO Capital Markets cut their price objective on shares of TransAlta from C$17.00 to C$16.00 and set an “outperform” rating on the stock in a report on Monday, February 26th. Finally, CIBC decreased their target price on shares of TransAlta from C$18.50 to C$16.00 and set an “outperform” rating on the stock in a research report on Friday, April 19th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of C$15.22.

Check Out Our Latest Stock Analysis on TA

TransAlta Stock Performance

The stock’s 50 day moving average price is C$8.98 and its 200 day moving average price is C$9.89. The company has a current ratio of 0.69, a quick ratio of 0.62 and a debt-to-equity ratio of 217.60. The firm has a market cap of C$2.99 billion, a PE ratio of 5.04, a P/E/G ratio of -0.07 and a beta of 0.87.

TransAlta (TSE:TAGet Free Report) (NYSE:TAC) last issued its quarterly earnings data on Friday, February 23rd. The company reported C($0.27) EPS for the quarter, missing analysts’ consensus estimates of C$0.18 by C($0.45). TransAlta had a return on equity of 33.61% and a net margin of 19.39%. The company had revenue of C$624.00 million for the quarter. As a group, equities analysts forecast that TransAlta Co. will post 0.8268251 earnings per share for the current fiscal year.

TransAlta Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Saturday, June 1st will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend is Friday, May 31st. TransAlta’s dividend payout ratio is presently 12.31%.

About TransAlta

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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.

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