TransAlta (NYSE:TAC - Get Free Report) TSE: TA was downgraded by equities research analysts at Scotiabank from a "sector outperform" rating to a "sector perform" rating in a note issued to investors on Thursday, MarketBeat Ratings reports.
Other analysts have also issued reports about the stock. Cibc World Mkts lowered shares of TransAlta from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, January 8th. CIBC downgraded shares of TransAlta from a "sector outperform" rating to a "neutral" rating in a research note on Wednesday, January 8th. StockNews.com lowered shares of TransAlta from a "buy" rating to a "hold" rating in a research report on Saturday, January 4th. Finally, Desjardins reiterated a "hold" rating on shares of TransAlta in a report on Wednesday, November 6th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, the stock has an average rating of "Hold".
Check Out Our Latest Stock Report on TransAlta
TransAlta Trading Down 2.6 %
Shares of TAC stock traded down $0.36 on Thursday, reaching $13.43. 2,611,489 shares of the company's stock were exchanged, compared to its average volume of 1,861,906. The company's fifty day simple moving average is $12.89 and its 200 day simple moving average is $10.41. The stock has a market capitalization of $3.99 billion, a PE ratio of 36.28 and a beta of 0.84. The company has a current ratio of 0.74, a quick ratio of 0.67 and a debt-to-equity ratio of 2.94. TransAlta has a 52 week low of $5.94 and a 52 week high of $14.64.
Institutional Trading of TransAlta
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. lifted its stake in shares of TransAlta by 56.5% during the 4th quarter. Blue Trust Inc. now owns 28,275 shares of the utilities provider's stock worth $400,000 after purchasing an additional 10,211 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in shares of TransAlta by 1,096.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 259,257 shares of the utilities provider's stock valued at $3,668,000 after buying an additional 237,584 shares during the last quarter. Ballentine Partners LLC bought a new stake in shares of TransAlta in the 4th quarter valued at about $145,000. Artemis Investment Management LLP purchased a new position in shares of TransAlta in the 4th quarter worth approximately $7,139,000. Finally, Franklin Resources Inc. raised its stake in shares of TransAlta by 190.6% during the 3rd quarter. Franklin Resources Inc. now owns 147,669 shares of the utilities provider's stock worth $1,550,000 after acquiring an additional 96,856 shares in the last quarter. Institutional investors own 59.00% of the company's stock.
About TransAlta
(
Get Free Report)
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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