TransAlta (NYSE:TAC) Raised to “Buy” at StockNews.com

TransAlta (NYSE:TAC) (TSE:TA) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Friday.

Several other analysts also recently commented on the stock. Desjardins restated a “hold” rating on shares of TransAlta in a research report on Wednesday, November 6th. Scotiabank raised shares of TransAlta to a “strong-buy” rating in a report on Thursday, December 5th.

TransAlta Trading Up 0.4 %

NYSE:TAC opened at $14.25 on Friday. The firm has a market capitalization of $4.25 billion, a price-to-earnings ratio of 38.51 and a beta of 0.91. The company has a debt-to-equity ratio of 2.94, a current ratio of 0.74 and a quick ratio of 0.67. The business has a fifty day moving average price of $11.48 and a 200-day moving average price of $9.46. TransAlta has a one year low of $5.94 and a one year high of $14.64.

Institutional Trading of TransAlta

Several institutional investors have recently added to or reduced their stakes in the company. Financial Management Professionals Inc. bought a new position in TransAlta in the 3rd quarter worth about $42,000. Quantbot Technologies LP purchased a new position in TransAlta during the third quarter valued at approximately $61,000. Evergreen Capital Management LLC purchased a new stake in TransAlta during the second quarter worth $72,000. Sage Rhino Capital LLC bought a new stake in TransAlta during the second quarter valued at about $79,000. Finally, Entropy Technologies LP bought a new position in TransAlta in the third quarter worth about $130,000. 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.