TransAlta (NYSE:TAC) Stock Rating Lowered by CIBC

TransAlta (NYSE:TAC) (TSE:TA) was downgraded by analysts at CIBC from a “sector outperform” rating to a “neutral” rating in a report issued on Wednesday, MarketBeat reports.

A number of other analysts also recently commented on the company. Desjardins restated a “hold” rating on shares of TransAlta in a research note on Wednesday, November 6th. StockNews.com downgraded TransAlta from a “buy” rating to a “hold” rating in a report on Saturday, January 4th. Finally, Scotiabank raised shares of TransAlta to a “strong-buy” rating in a research note on Thursday, December 5th.

TransAlta Trading Down 2.5 %

NYSE TAC opened at $13.27 on Wednesday. TransAlta has a 1 year low of $5.94 and a 1 year high of $14.64. 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 company has a market capitalization of $3.96 billion, a PE ratio of 35.87 and a beta of 0.84. The company has a fifty day moving average of $12.23 and a 200 day moving average of $9.95.

Hedge Funds Weigh In On TransAlta

Hedge funds have recently bought and sold shares of the business. Financial Management Professionals Inc. acquired a new position in shares of TransAlta during the 3rd quarter worth approximately $42,000. Quantbot Technologies LP acquired a new position in TransAlta during the third quarter worth $61,000. Evergreen Capital Management LLC purchased a new position in TransAlta during the second quarter valued at $72,000. Entropy Technologies LP acquired a new stake in shares of TransAlta in the third quarter valued at about $130,000. Finally, Blue Trust Inc. increased its stake in shares of TransAlta by 326.3% during the third quarter. Blue Trust Inc. now owns 18,064 shares of the utilities provider’s stock worth $187,000 after purchasing an additional 13,827 shares in the last quarter. Hedge funds and other institutional investors 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.