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 note issued to investors on Tuesday.

Several other analysts have also recently issued reports on TAC. Cibc World Mkts cut shares of TransAlta from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 8th. Desjardins reiterated a “hold” rating on shares of TransAlta in a report on Wednesday, November 6th. Scotiabank downgraded shares of TransAlta from a “sector outperform” rating to a “sector perform” rating in a research note on Thursday, January 23rd. Finally, CIBC lowered TransAlta from a “sector outperform” rating to a “neutral” rating in a research report on Wednesday, January 8th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

TransAlta Price Performance

TAC stock opened at $10.74 on Tuesday. The business’s fifty day moving average price is $13.06 and its 200 day moving average price is $10.80. TransAlta has a 12-month low of $5.94 and a 12-month high of $14.64. The company has a market capitalization of $3.20 billion, a PE ratio of 29.02 and a beta of 0.83. The company has a current ratio of 0.74, a quick ratio of 0.67 and a debt-to-equity ratio of 2.94.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Financial Management Professionals Inc. acquired a new stake in shares of TransAlta in the 3rd quarter valued at $42,000. Tobam purchased a new position in TransAlta in the fourth quarter valued at $46,000. Quantbot Technologies LP acquired a new stake in TransAlta in the third quarter valued at $61,000. Entropy Technologies LP purchased a new stake in TransAlta during the 3rd quarter worth about $130,000. Finally, Ballentine Partners LLC acquired a new position in shares of TransAlta during the 4th quarter worth about $145,000. 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.