TAC Stock Summary and Trading Ideas (Transalta | NYSE:TAC)

TransAlta Corp 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. The company has six reportable segments namely, hydro, wind & solar, Energy Marketing, gas, energy transition segment and Corporate Segment. The company generates the majority of its revenue from the gas segment.

Transalta trades on the NYSE stock market under the symbol TAC.

As of April 22, 2024, TAC stock price climbed to $6.49 with 907,805 million shares trading.

TAC has a beta of 0.69, meaning it tends to be less sensitive to market movements. TAC has a correlation of 0.10 to the broad based SPY ETF.

TAC has a market cap of $2.00 billion. This is considered a Small Cap stock.

In the last 3 years, TAC stock traded as high as $12.13 and as low as $5.94.

The top ETF exchange traded funds that TAC belongs to (by Net Assets): CNRG, DFIS, SMOG, PDN, DFAX.

TAC has underperformed the market in the last year with a return of -25.0%, while the SPY ETF gained +22.3%. In the last 3 month period, TAC fell short of the market, returning -13.6%, while SPY returned +3.9%. However, in the most recent 2 weeks TAC has outperformed the stock market by returning +2.4%, while SPY returned -3.6%.

TAC support price is $6.34 and resistance is $6.56 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that TAC stock will trade within this expected range on the day.