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

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

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

TransAlta Stock Performance

Shares of NYSE TAC opened at $14.19 on Friday. The company has a debt-to-equity ratio of 2.94, a quick ratio of 0.67 and a current ratio of 0.74. The stock has a 50 day moving average price of $12.03 and a 200 day moving average price of $9.79. The stock has a market capitalization of $4.23 billion, a PE ratio of 38.35 and a beta of 0.84. TransAlta has a 52 week low of $5.94 and a 52 week high of $14.64.

Institutional Investors Weigh In On TransAlta

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

About TransAlta

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.