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

TransAlta (NYSE:TAC) (TSE:TA) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Tuesday.

TAC has been the subject of a number of other research reports. Cibc World Mkts cut TransAlta from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 8th. Desjardins reaffirmed a “hold” rating on shares of TransAlta in a research report on Wednesday, November 6th. Scotiabank cut TransAlta from a “sector outperform” rating to a “sector perform” rating in a research report on Thursday, January 23rd. Finally, CIBC cut TransAlta from a “sector outperform” rating to a “neutral” rating in a research report on Wednesday, January 8th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, TransAlta currently has an average rating of “Hold”.

TransAlta Price Performance

TAC opened at $10.45 on Tuesday. The stock has a market cap of $3.11 billion, a price-to-earnings ratio of 28.24 and a beta of 0.83. TransAlta has a 1 year low of $5.94 and a 1 year high of $14.64. The company has a current ratio of 0.74, a quick ratio of 0.67 and a debt-to-equity ratio of 2.94. The stock has a fifty day moving average price of $13.02 and a 200 day moving average price of $10.84.

Hedge Funds Weigh In On TransAlta

A number of institutional investors have recently made changes to their positions in TAC. Creative Planning increased its stake in shares of TransAlta by 161.9% in the second quarter. Creative Planning now owns 50,311 shares of the utilities provider’s stock worth $356,000 after purchasing an additional 31,103 shares during the period. Blue Trust Inc. increased its stake in TransAlta by 326.3% during the third quarter. Blue Trust Inc. now owns 18,064 shares of the utilities provider’s stock valued at $187,000 after acquiring an additional 13,827 shares during the period. Signaturefd LLC increased its stake in TransAlta by 23.6% during the third quarter. Signaturefd LLC now owns 26,207 shares of the utilities provider’s stock valued at $272,000 after acquiring an additional 5,008 shares during the period. DekaBank Deutsche Girozentrale increased its stake in TransAlta by 192.5% during the third quarter. DekaBank Deutsche Girozentrale now owns 34,081 shares of the utilities provider’s stock valued at $346,000 after acquiring an additional 22,431 shares during the period. Finally, Financial Management Professionals Inc. bought a new position in TransAlta during the third quarter valued at about $42,000. 59.00% of the stock is currently owned by institutional investors.

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.