Shares of TransAlta Corporation (NYSE:TAC) traded today at $10.20, eclipsing its 52-week high. Approximately 111,000 shares have changed hands today, as compared to an average 30-day volume of 245,000 shares.
Based on a current price of $9.99, TransAlta Corporation is currently 21.2% above its average consensus analyst price target of $7.87.
In the past 52 weeks, shares of TransAlta Corporation have traded between a low of $5.65 and a high of $10.20 and is now at $9.99, which is 77% above that low price.
TransAlta is an independent power producer based in Alberta, Canada. The company owns more than 70 power plants in Canada, the Western United States, and Australia. TransAlta's net generating capacity is approximately two thirds coal or natural gas-fired. The remaining one third consists primarily of hydroelectric plants and wind energy farms. We expect this mix to shift to more renewable energy as the company retires Alberta coal plants to comply with carbon emissions legislation. TransAlta also has an energy trading and marketing business and owns natural gas transmission lines.
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