TransAlta (TSE:TA) Share Price Passes Above 200-Day Moving Average - What's Next?

Key Points

• TransAlta's share price surpassed its 200-day moving average for the first time, reaching a high of C$19.14, with the last trade at C$19.04.
• Multiple analysts have upgraded TransAlta’s stock, with most recent targets set at C$20.00, reflecting positive sentiment and a consensus rating of "Buy".
• The company operates a diverse portfolio of power generation assets across Canada, the US, and Australia, focusing on renewable energy sources including hydro, wind, and solar energy.

TransAlta Co. (TSE:TA - Get Free Report) NYSE: TAC passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$14.89 and traded as high as C$19.14. TransAlta shares last traded at C$19.04, with a volume of 596,621 shares.

Analyst Upgrades and Downgrades

TA has been the subject of a number of research analyst reports. Jefferies Financial Group upgraded shares of TransAlta from a "hold" rating to a "buy" rating and upped their price objective for the stock from C$12.00 to C$20.00 in a research report on Thursday, June 12th. Scotiabank raised shares of TransAlta from a "hold" rating to a "strong-buy" rating and boosted their target price for the stock from C$16.00 to C$20.00 in a research note on Friday, July 18th. CIBC raised their price target on shares of TransAlta from C$18.50 to C$20.00 in a research note on Thursday, July 10th. TD Securities boosted their price objective on TransAlta from C$19.00 to C$20.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Finally, ATB Capital increased their target price on TransAlta from C$18.00 to C$20.00 and gave the company an "outperform" rating in a report on Tuesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold 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$19.22.

TransAlta Stock Performance

The stock has a market cap of C$5.64 billion, a price-to-earnings ratio of -35.26, a PEG ratio of -0.07 and a beta of 0.65. The company has a debt-to-equity ratio of 229.66, a current ratio of 0.74 and a quick ratio of 0.62. The firm has a fifty day moving average of C$17.30 and a 200 day moving average of C$14.89.

TransAlta Company Profile

TransAlta is an independent power producer based in Alberta, Canada. The company operates a diverse and growing fleet of electrical power generation assets in Canada, the United States, and Australia consisting of hydro, wind, solar, battery storage, gas and energy transition facilities. The majority of the company's revenues are derived from the sale of generation capacity, electricity, thermal energy, environmental attributes, and byproducts of power generation.

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