TransAlta (NYSE:TAC) Downgraded to “Hold” Rating by StockNews.com

TransAlta (NYSE:TAC) (TSE:TA) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Saturday.

Other equities analysts also recently issued reports about the company. Scotiabank upgraded TransAlta to a “strong-buy” rating in a research note on Thursday, December 5th. Desjardins restated a “hold” rating on shares of TransAlta in a research note on Wednesday, November 6th.

TransAlta Stock Up 0.8 %

TAC opened at $14.19 on Friday. The stock has a market capitalization of $4.23 billion, a price-to-earnings ratio of 38.35 and a beta of 0.84. The firm has a 50 day moving average price of $12.03 and a 200-day moving average price of $9.81. TransAlta has a twelve month low of $5.94 and a twelve month high of $14.64. The company has a quick ratio of 0.67, a current ratio of 0.74 and a debt-to-equity ratio of 2.94.

Institutional Investors Weigh In On TransAlta

Institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC lifted its holdings in TransAlta by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 122,621 shares of the utilities provider’s stock worth $1,277,000 after purchasing an additional 2,524 shares in the last quarter. Creative Planning raised its position in shares of TransAlta by 6.9% during the third quarter. Creative Planning now owns 53,803 shares of the utilities provider’s stock valued at $557,000 after buying an additional 3,492 shares during the last quarter. Financial Management Professionals Inc. purchased a new position in shares of TransAlta in the third quarter worth $42,000. Signaturefd LLC lifted its holdings in shares of TransAlta by 23.6% in the third quarter. Signaturefd LLC now owns 26,207 shares of the utilities provider’s stock worth $272,000 after buying an additional 5,008 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of TransAlta during the third quarter worth $61,000. Hedge funds and other institutional investors own 59.00% of the company’s stock.

TransAlta Company Profile

TransAlta Corporation engages in the development, production, and sale of electric energy. It operates through Hydro, Wind and Solar, Gas, Energy Transition, and Energy Marketing segments. The Hydro segment holds interest of approximately 922 megawatts (MW) of owned hydroelectric generating capacity located in Alberta, British Columbia, and Ontario.