TransAlta (NYSE:TAC) Upgraded by StockNews.com to Buy Rating

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

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

TransAlta Stock Down 1.0 %

Shares of TAC opened at $10.45 on Tuesday. The company has a market capitalization of $3.11 billion, a P/E ratio of 28.24 and a beta of 0.83. The company has a debt-to-equity ratio of 2.94, a current ratio of 0.74 and a quick ratio of 0.67. TransAlta has a one year low of $5.94 and a one year high of $14.64. The business’s 50 day simple moving average is $13.02 and its 200-day simple moving average is $10.84.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Tobam bought a new stake in shares of TransAlta during the 4th quarter valued at $46,000. Financial Management Professionals Inc. bought a new stake in shares of TransAlta during the 3rd quarter valued at $42,000. Quantbot Technologies LP bought a new stake in shares of TransAlta during the 3rd quarter valued at $61,000. Ballentine Partners LLC bought a new stake in shares of TransAlta during the 4th quarter valued at $145,000. Finally, Orion Portfolio Solutions LLC bought a new stake in shares of TransAlta during the 4th quarter valued at $147,000. 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.