TransAlta (TSE:TA) Stock Price Passes Above 200 Day Moving Average of $8.12

TransAlta Co. (TSE:TA) (NYSE:TAC)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.12 and traded as high as $8.20. TransAlta shares last traded at $8.06, with a volume of 450,123 shares trading hands.

TA has been the subject of a number of research reports. AltaCorp Capital reissued an “outperform” rating on shares of TransAlta in a research note on Monday, July 6th. CSFB increased their price objective on shares of TransAlta from C$10.00 to C$11.50 in a research report on Wednesday, July 29th. Finally, Credit Suisse Group boosted their price objective on shares of TransAlta from C$10.00 to C$11.50 in a research report on Wednesday, July 29th. Four research analysts have rated the stock with a buy rating, TransAlta presently has an average rating of “Buy” and a consensus target price of C$11.64.

The stock has a market cap of $2.21 billion and a price-to-earnings ratio of 26.78. The business has a 50-day simple moving average of C$8.44 and a two-hundred day simple moving average of C$8.12. The company has a debt-to-equity ratio of 86.22, a quick ratio of 0.60 and a current ratio of 1.23.

TransAlta (TSE:TA) (NYSE:TAC) last announced its earnings results on Friday, July 31st. The company reported C($0.22) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of C($0.10) by C($0.12). The company had revenue of C$437.00 million for the quarter. On average, analysts expect that TransAlta Co. will post -0.5084536 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be issued a $0.043 dividend. This represents a $0.17 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Monday, August 31st. TransAlta’s payout ratio is 54.82%.

About TransAlta (TSE:TA)

TransAlta Corporation operates as non-regulated electricity generation and energy marketing company in Canada, the United States, and Western Australia. It operates through eight segments: Canadian Coal, U.S. Coal, Canadian Gas, Australian Gas, Wind and Solar, Hydro, Energy Marketing, and Corporate. The company generates and markets electricity through various generation fuels, such as coal, natural gas, water, solar, and wind.

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