TransAlta (NYSE:TAC) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of TransAlta (NYSE:TAC) (TSE:TA) from a buy rating to a hold rating in a research report report published on Thursday morning.

A number of other equities analysts also recently issued reports on the company. Desjardins restated a “hold” rating on shares of TransAlta in a research report on Wednesday, November 6th. Scotiabank raised shares of TransAlta to a “strong-buy” rating in a research report on Thursday, December 5th.

TransAlta Price Performance

TAC stock opened at $13.85 on Thursday. The company’s 50-day moving average price is $11.25 and its two-hundred day moving average price is $9.31. TransAlta has a 12 month low of $5.94 and a 12 month high of $14.64. The company has a quick ratio of 0.67, a current ratio of 0.74 and a debt-to-equity ratio of 2.94. The firm has a market cap of $4.13 billion, a P/E ratio of 37.43 and a beta of 0.91.

TransAlta Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Saturday, March 1st will be given a dividend of $0.0423 per share. The ex-dividend date is Friday, February 28th. This represents a $0.17 annualized dividend and a dividend yield of 1.22%. TransAlta’s dividend payout ratio is currently 45.95%.

Institutional Investors Weigh In On TransAlta

Large investors have recently modified their holdings of the stock. Blue Trust Inc. increased its holdings in TransAlta by 1,381.5% in the 2nd quarter. Blue Trust Inc. now owns 4,237 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 3,951 shares during the last quarter. Financial Management Professionals Inc. bought a new position in TransAlta during the third quarter worth about $42,000. Quantbot Technologies LP purchased a new position in shares of TransAlta in the third quarter worth about $61,000. Evergreen Capital Management LLC bought a new stake in shares of TransAlta in the second quarter valued at approximately $72,000. Finally, Sage Rhino Capital LLC purchased a new stake in shares of TransAlta during the 2nd quarter valued at approximately $79,000. Hedge funds and other institutional investors 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.