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

TransAlta (NYSE:TAC) (TSE:TA) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Saturday.

A number of other brokerages have also recently issued reports on TAC. Desjardins reissued a “hold” rating on shares of TransAlta in a research note on Wednesday, November 6th. Scotiabank raised TransAlta to a “strong-buy” rating in a report on Thursday, December 5th.

TransAlta Trading Up 0.8 %

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Financial Management Professionals Inc. bought a new stake in TransAlta during the 3rd quarter worth $42,000. Quantbot Technologies LP bought a new stake in shares of TransAlta during the third quarter worth about $61,000. Evergreen Capital Management LLC acquired a new position in shares of TransAlta in the second quarter valued at approximately $72,000. Entropy Technologies LP acquired a new position in shares of TransAlta in the third quarter valued at approximately $130,000. Finally, Blue Trust Inc. raised its holdings in TransAlta by 326.3% in the 3rd quarter. Blue Trust Inc. now owns 18,064 shares of the utilities provider’s stock valued at $187,000 after buying an additional 13,827 shares during the last quarter. 59.00% of the stock is currently owned by institutional investors.

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.