TransAlta (NYSE:TAC) Stock Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

TransAlta Corporation (NYSE:TAC) (TSE:TA)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $13.06 and traded as high as $13.88. TransAlta shares last traded at $13.6150, with a volume of 1,887,648 shares trading hands.

Wall Street Analyst Weigh In

TAC has been the subject of several recent analyst reports. National Bank Financial upgraded TransAlta from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, March 24th. TD Cowen began coverage on shares of TransAlta in a research note on Wednesday, June 10th. They issued a “buy” rating on the stock. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of TransAlta in a report on Thursday, April 16th. Weiss Ratings upgraded shares of TransAlta from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, June 16th. Finally, BMO Capital Markets began coverage on shares of TransAlta in a research report on Wednesday, June 10th. They set an “outperform” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, TransAlta has an average rating of “Moderate Buy” and a consensus target price of $22.25.

TransAlta Stock Down 1.3%

The firm has a market capitalization of $4.30 billion, a price-to-earnings ratio of -25.21 and a beta of 0.69. The firm has a fifty day moving average price of $13.15 and a 200 day moving average price of $13.06. The company has a current ratio of 0.76, a quick ratio of 0.70 and a debt-to-equity ratio of 6.61.

TransAlta (NYSE:TAC) (TSE:TA) last released its quarterly earnings results on Wednesday, May 6th. The utilities provider reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.03. TransAlta had a positive return on equity of 9.52% and a negative net margin of 9.46%.The firm had revenue of $406.19 million during the quarter, compared to analysts’ expectations of $436.36 million. Sell-side analysts anticipate that TransAlta Corporation will post 0.22 EPS for the current fiscal year.

Institutional Trading of TransAlta

Several large investors have recently made changes to their positions in TAC. Rubric Capital Management LP increased its stake in shares of TransAlta by 32.9% in the second quarter. Rubric Capital Management LP now owns 15,948,451 shares of the utilities provider’s stock valued at $172,084,000 after buying an additional 3,948,451 shares in the last quarter. Norges Bank acquired a new position in TransAlta during the 4th quarter worth about $45,298,000. Sculptor Capital LP acquired a new position in TransAlta during the 4th quarter worth about $37,958,000. Bank of Montreal Can grew its holdings in TransAlta by 27.5% during the 4th quarter. Bank of Montreal Can now owns 13,295,335 shares of the utilities provider’s stock worth $168,163,000 after acquiring an additional 2,870,026 shares during the last quarter. Finally, Aventail Capital Group LP bought a new stake in TransAlta during the 3rd quarter worth about $38,633,000. Institutional investors own 59.00% of the company’s stock.

About TransAlta

TransAlta Corporation, originally founded in 1909 as Calgary Power Company Ltd., is a publicly traded energy company specializing in the development, ownership and operation of power generation and transmission assets. Headquartered in Calgary, Alberta, TransAlta has grown from its early hydroelectric roots into a diversified energy provider with a multi-fuel generating fleet.

The company’s core business activities encompass power generation, asset management and energy trading services.