TransAlta (NYSE:TAC – Get Free Report) (TSE:TA) was downgraded by equities researchers at Scotiabank from a “sector outperform” rating to a “sector perform” rating in a report released on Thursday, MarketBeat.com reports.
TAC has been the topic of several other reports. Desjardins reissued a “hold” rating on shares of TransAlta in a research note on Wednesday, November 6th. StockNews.com downgraded shares of TransAlta from a “buy” rating to a “hold” rating in a research report on Saturday, January 4th. Cibc World Mkts cut shares of TransAlta from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 8th. Finally, CIBC cut shares of TransAlta from a “sector outperform” rating to a “neutral” rating in a research report on Wednesday, January 8th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.
View Our Latest Research Report on TransAlta
TransAlta Stock Up 0.5 %
Institutional Trading of TransAlta
A number of hedge funds have recently modified their holdings of TAC. Rubric Capital Management LP lifted its position in TransAlta by 20.0% during the 3rd quarter. Rubric Capital Management LP now owns 5,622,961 shares of the utilities provider’s stock valued at $58,254,000 after acquiring an additional 935,803 shares during the period. FMR LLC increased its stake in shares of TransAlta by 9.8% during the third quarter. FMR LLC now owns 4,593,023 shares of the utilities provider’s stock valued at $47,613,000 after purchasing an additional 408,184 shares in the last quarter. Wellington Management Group LLP bought a new stake in shares of TransAlta in the 3rd quarter worth approximately $998,000. Polar Asset Management Partners Inc. purchased a new stake in shares of TransAlta in the 3rd quarter worth approximately $518,000. Finally, Public Employees Retirement System of Ohio bought a new position in TransAlta during the 3rd quarter valued at approximately $1,812,000. 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.
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