TransAlta Corporation (TA:CA) is one of the best performing stocks in the utilities sector in the S&P/TSX Composite Index at the lunch break on September 22. Shares of TA:CA have climbed 1.33% about halfway through the session to $6.11 after closing the day prior at $6.03. So far, the stock has traded as high as $6.18 and as low as $6.02 in morning action. Today’s advance has come with about 517,982 shares changing hands, compared to an average 30-day volume of 707,813 for TransAlta Corporation. The price is currently below the 30-day volume weighted average price of $6.12 for TA:CA.
The share appreciation gives the utilities company a market capitalization of $1.74 billion based upon 287.9 million shares outstanding. It also means that TransAlta Corp. has a price-to-book ratio of 0.7:1 and a price-to-earnings ratio of 10.2:1.
In the past 52 weeks, shares of TA:CA have traded as low as $3.6 and as high as $7.2. Technical traders will take note that at $6.11, shares of TA:CA are trading above their 200-day MA at $5.77 and above their 50-day MA at $5.99. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.
Who is TransAlta Corp.?
TransAlta Corp is engaged in the production and sale of electric energy. The Company's business segments are Canadian Coal, U.S. Coal, Gas, Wind and Solar, and Hydro. The company’s 2380 employees are led by CEO Dawn L. Farrell from the corporate headquarters at 110 – 12th Avenue SW.
What is the S&P/TSX Composite Index?
Developed and managed by S&P Dow Jones Indices and launched in January 1977, the S&P/TSX Composite is the headline index for the Canadian equity market. Generally, when investors refer to movement in the Canadian markets, they are referring to the S&P/TSX Composite, as it is the broadest index in the S&P/TSX franchise. The index includes more than 230 of the biggest companies traded on the Toronto Stock Exchange, with financials making up the most heavily weighted sector in the index, followed by energy and materials. The Toronto Stock Exchange serves as the distributor of both real-time and historical data for this index.
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