TransAlta (NYSE:TAC) Rating Lowered to “Hold” at StockNews.com

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

Several other research firms have also recently issued reports on TAC. Scotiabank upgraded TransAlta to a “strong-buy” rating in a report on Thursday, December 5th. Desjardins reaffirmed a “hold” rating on shares of TransAlta in a research note on Wednesday, November 6th.

TransAlta Stock Down 0.4 %

NYSE:TAC opened at $13.85 on Thursday. The stock’s fifty day moving average price is $11.25 and its two-hundred day moving average price is $9.30. The company has a market cap of $4.13 billion, a price-to-earnings ratio of 37.43 and a beta of 0.91. TransAlta has a 52-week low of $5.94 and a 52-week high of $14.64. The company has a debt-to-equity ratio of 2.94, a quick ratio of 0.67 and a current ratio of 0.74.

Hedge Funds Weigh In On TransAlta

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its position in shares of TransAlta by 1,381.5% in the 2nd quarter. Blue Trust Inc. now owns 4,237 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 3,951 shares during the period. Financial Management Professionals Inc. bought a new position in shares of TransAlta during the third quarter worth $42,000. Quantbot Technologies LP acquired a new position in shares of TransAlta in the 3rd quarter valued at $61,000. Evergreen Capital Management LLC bought a new stake in shares of TransAlta in the 2nd quarter valued at $72,000. Finally, Sage Rhino Capital LLC acquired a new stake in TransAlta during the 2nd quarter worth $79,000. 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.