StockNews.com Upgrades TransAlta (NYSE:TAC) to Buy

TransAlta (NYSE:TAC - Get Free Report) TSE: TA was upgraded by equities research analysts at StockNews.com from a "hold" rating to a "buy" rating in a report issued on Tuesday.

TAC has been the topic of several other reports. 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 cut TransAlta from a "sector outperform" rating to a "neutral" rating in a research report on Wednesday, January 8th. Desjardins reiterated a "hold" rating on shares of TransAlta in a research report on Wednesday, November 6th. Finally, Scotiabank downgraded TransAlta from a "sector outperform" rating to a "sector perform" rating in a report on Thursday, January 23rd. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, TransAlta presently has a consensus rating of "Hold".

TransAlta Stock Up 0.7 %

TAC traded up $0.08 on Tuesday, reaching $10.50. The company's stock had a trading volume of 794,321 shares, compared to its average volume of 2,017,459. The company has a quick ratio of 0.67, a current ratio of 0.74 and a debt-to-equity ratio of 2.94. TransAlta has a fifty-two week low of $5.94 and a fifty-two week high of $14.64. The stock has a 50 day moving average of $12.89 and a two-hundred day moving average of $10.86. The company has a market capitalization of $3.12 billion, a price-to-earnings ratio of 28.37 and a beta of 0.83.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of TAC. Tobam acquired a new stake in TransAlta during the 4th quarter worth approximately $46,000. Financial Management Professionals Inc. acquired a new stake in TransAlta during the 3rd quarter worth approximately $42,000. Quantbot Technologies LP acquired a new position in TransAlta in the 3rd quarter valued at $61,000. Ballentine Partners LLC acquired a new position in TransAlta in the 4th quarter valued at $145,000. Finally, Orion Portfolio Solutions LLC acquired a new position in TransAlta in the 4th quarter valued at $147,000. 59.00% of the stock is currently owned by institutional investors and hedge funds.

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.