TransAlta (NYSE:TAC – Get Rating) (TSE:TA) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.
A number of other equities analysts have also issued reports on TAC. Royal Bank of Canada reduced their target price on TransAlta from $17.00 to $16.00 and set an “outperform” rating for the company in a research note on Friday, December 16th. National Bank Financial upgraded TransAlta from a “sector perform” rating to an “outperform” rating in a research note on Friday, January 27th. Finally, Credit Suisse Group lowered TransAlta from an “outperform” rating to a “neutral” rating in a research note on Wednesday, February 1st. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $16.10.
TransAlta Stock Performance
Shares of TAC opened at $7.78 on Friday. The firm has a market cap of $2.09 billion, a PE ratio of 389.00 and a beta of 1.06. The company has a current ratio of 1.29, a quick ratio of 1.23 and a debt-to-equity ratio of 3.32. The stock has a fifty day moving average price of $8.85 and a 200-day moving average price of $8.97. TransAlta has a 12 month low of $7.55 and a 12 month high of $11.85.
Hedge Funds Weigh In On TransAlta
A number of institutional investors have recently modified their holdings of the stock. Addenda Capital Inc. acquired a new stake in shares of TransAlta during the 4th quarter valued at about $30,000. Signaturefd LLC grew its position in shares of TransAlta by 50.4% during the 4th quarter. Signaturefd LLC now owns 3,434 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 1,151 shares during the period. Sentry Investment Management LLC acquired a new stake in shares of TransAlta during the 3rd quarter valued at about $38,000. US Bancorp DE grew its position in shares of TransAlta by 1,416.1% during the 3rd quarter. US Bancorp DE now owns 5,276 shares of the utilities provider’s stock valued at $47,000 after acquiring an additional 4,928 shares during the period. Finally, Lazard Asset Management LLC acquired a new stake in shares of TransAlta during the 4th quarter valued at about $55,000. Hedge funds and other institutional investors own 64.37% of the company’s stock.
TransAlta Company Profile
TransAlta Corp. engages in the generation and distribution of electricity through wind, hydro, gas and coal power plants. It operates through the following business segments: Hydro, Wind and Solar, Gas, Energy Transition, Energy Marketing, and Corporate. The Hydro, Wind and Solar, Gas and Energy Transition business segments are responsible for operating and maintaining the company’s electrical generation facilities in Canada, Australia, and the US.