Home / Market Movers / Midday Mover: TransAlta Renewables Inc. (RNW:CA) Gains 1.02% to Lead TSX Composite Utilities Stocks at Noon on September 22

Midday Mover: TransAlta Renewables Inc. (RNW:CA) Gains 1.02% to Lead TSX Composite Utilities Stocks at Noon on September 22

TransAlta Renewables Inc. (RNW: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 RNW:CA have climbed 1.02% about halfway through the session to $14.91 after closing the day prior at $14.76. So far, the stock has traded as high as $15.04 and as low as $14.86 in morning action. Today’s advance has come with about 118,984 shares changing hands, compared to an average 30-day volume of 318,186 for TransAlta Renewables Inc.. The price is currently below the 30-day volume weighted average price of $14.97 for RNW:CA.

The share appreciation gives the utilities company a market capitalization of $3.31 billion based upon 224.13 million shares outstanding. It also means that TransAlta Renewa has a price-to-book ratio of 1.56:1 and a price-to-earnings ratio of 20.8:1.

In the past 52 weeks, shares of RNW:CA have traded as low as $8.99 and as high as $14.86. Technical traders will take note that at $14.91, shares of RNW:CA are trading above their 200-day MA at $12.02 and above their 50-day MA at $14.11. 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 Renewa?

TransAlta Renewables Inc., owns and operates hydro facilities and wind farms in Western and Eastern Canada and holds an economic interest in the Wyoming Wind Farm. The company’s 5 employees are led by CEO Brett Gellner from the corporate headquarters at 110-12th Avenue South West.

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.

For more information on TransAlta Renewa and other companies trading on the major exchanges, as well as the over the counter markets, or to be considered for contributing content for our distribution network, visit FinancialPress.com today.

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