TransAlta (TSE:TA) Stock Price Down 9% – Here’s Why

TransAlta Co. (TSE:TA) (NYSE:TAC)’s share price fell 9% during mid-day trading on Thursday . The company traded as low as C$18.15 and last traded at C$18.28. 907,293 shares changed hands during mid-day trading, a decline of 31% from the average session volume of 1,323,862 shares. The stock had previously closed at C$20.08.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. National Bank Financial upped their target price on shares of TransAlta from C$22.00 to C$24.00 and gave the company an “outperform” rating in a report on Monday. Desjardins lowered their target price on shares of TransAlta from C$19.00 to C$18.00 and set a “hold” rating for the company in a report on Tuesday, February 10th. ATB Cormark Capital Markets upped their target price on shares of TransAlta from C$27.00 to C$28.00 and gave the company an “outperform” rating in a report on Tuesday, March 24th. Finally, TD lowered their target price on shares of TransAlta from C$27.00 to C$26.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$24.67.

TransAlta Price Performance

The stock’s fifty day moving average price is C$18.14 and its 200-day moving average price is C$18.14. The company has a debt-to-equity ratio of 317.20, a quick ratio of 0.62 and a current ratio of 0.76. The firm has a market cap of C$5.34 billion, a PE ratio of -23.92, a P/E/G ratio of -0.07 and a beta of 0.69.

TransAlta (TSE:TA) (NYSE:TAC) last posted its earnings results on Wednesday, May 6th. The company reported C$0.06 earnings per share for the quarter. TransAlta had a negative net margin of 7.73% and a negative return on equity of 11.56%. The firm had revenue of C$560.00 million during the quarter.

Insider Activity

In related news, insider Jane Nyla Fedoretz sold 10,000 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of C$18.25, for a total value of C$182,500.00. Following the completion of the sale, the insider owned 49,906 shares of the company’s stock, valued at C$910,784.50. This represents a 16.69% decrease in their ownership of the stock. Also, insider Christopher Douglas Fralick sold 36,453 shares of the company’s stock in a transaction dated Thursday, March 26th. The stock was sold at an average price of C$17.90, for a total transaction of C$652,508.70. Following the completion of the sale, the insider directly owned 46,939 shares of the company’s stock, valued at C$840,208.10. The trade was a 43.71% decrease in their position. Insiders have sold 95,953 shares of company stock worth $1,707,409 over the last 90 days. Company insiders own 0.21% of the company’s stock.

TransAlta Company Profile

TransAlta owns, operates and develops a diverse fleet of electrical power generation assets in Canada, the United States and Australia with a focus on long-term shareholder value. TransAlta provides municipalities, medium and large industries, businesses and utility customers with affordable, energy efficient and reliable power. Today, TransAlta is one of Canada’s largest producers of wind power and Alberta’s largest producer of thermal generation and hydro-electric power. For over 114 years, TransAlta has been a responsible operator and a proud member of the communities where we operate and where our employees work and live.