TransAlta (NYSE:TAC) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

Shares of TransAlta Corporation (NYSE:TAC) (TSE:TA) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $13.23 and traded as high as $13.82. TransAlta shares last traded at $13.5650, with a volume of 4,604,932 shares changing hands.

Analyst Ratings Changes

TAC has been the subject of a number of recent analyst reports. National Bank Financial raised shares of TransAlta from a “sector perform” rating to an “outperform” rating in a report on Tuesday, March 24th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $24.00 price objective on shares of TransAlta in a report on Tuesday, March 24th. BMO Capital Markets restated an “outperform” rating on shares of TransAlta in a research report on Thursday, May 7th. Weiss Ratings cut TransAlta from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, May 7th. Finally, TD Securities restated a “buy” rating on shares of TransAlta in a research report on Thursday, May 7th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.33.

TransAlta Stock Up 4.2%

The firm has a market cap of $4.21 billion, a PE ratio of -26.18 and a beta of 0.66. The business’s 50 day moving average price is $12.93 and its 200 day moving average price is $13.21. The company has a debt-to-equity ratio of 6.61, a current ratio of 0.76 and a quick ratio of 0.70.

TransAlta (NYSE:TAC) (TSE:TA) last released its earnings results on Wednesday, May 6th. The utilities provider reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.03. The business had revenue of $406.19 million during the quarter, compared to analysts’ expectations of $436.36 million. TransAlta had a negative net margin of 9.46% and a positive return on equity of 9.52%. On average, equities research analysts expect that TransAlta Corporation will post 0.26 earnings per share for the current year.

Institutional Trading of TransAlta

Several large investors have recently made changes to their positions in TAC. Caitong International Asset Management Co. Ltd purchased a new stake in shares of TransAlta during the fourth quarter worth approximately $37,000. EverSource Wealth Advisors LLC grew its stake in TransAlta by 37.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,000 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 812 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in TransAlta during the 4th quarter valued at about $50,000. Warren Street Wealth Advisors LLC purchased a new stake in TransAlta during the 4th quarter valued at about $129,000. Finally, Ritter Alpha LP purchased a new stake in TransAlta during the 4th quarter valued at about $131,000. 59.00% of the stock is currently owned by hedge funds and other institutional investors.

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.