TransAlta (NYSE:TAC - Get Free Report) TSE: TA was upgraded by investment analysts at StockNews.com from a "hold" rating to a "buy" rating in a research report issued on Friday.
A number of other analysts also recently issued reports on TAC. Desjardins reissued a "hold" rating on shares of TransAlta in a research report on Wednesday, November 6th. Scotiabank downgraded shares of TransAlta from a "sector outperform" rating to a "sector perform" rating in a research note on Thursday, January 23rd. Cibc World Mkts lowered shares of TransAlta from a "strong-buy" rating to a "hold" rating in a report on Wednesday, January 8th. Finally, CIBC downgraded shares of TransAlta from a "sector outperform" rating to a "neutral" rating in a report on Wednesday, January 8th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, TransAlta currently has an average rating of "Hold".
Check Out Our Latest Research Report on TransAlta
TransAlta Trading Down 3.4 %
TransAlta stock traded down $0.39 during mid-day trading on Friday, hitting $11.10. The company's stock had a trading volume of 1,212,588 shares, compared to its average volume of 1,955,726. The stock's fifty day moving average is $13.07 and its two-hundred day moving average is $10.66. 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 firm has a market capitalization of $3.30 billion, a PE ratio of 29.99 and a beta of 0.83. TransAlta has a 1 year low of $5.94 and a 1 year high of $14.64.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the business. Private Advisor Group LLC acquired a new stake in TransAlta during the 4th quarter worth approximately $150,000. Pinnbrook Capital Management LP acquired a new position in shares of TransAlta in the fourth quarter worth $4,185,000. Van ECK Associates Corp increased its position in shares of TransAlta by 7.5% during the fourth quarter. Van ECK Associates Corp now owns 79,957 shares of the utilities provider's stock worth $1,131,000 after acquiring an additional 5,593 shares during the period. Louisbourg Investments Inc. acquired a new stake in shares of TransAlta in the fourth quarter valued at $3,439,000. Finally, Tobam purchased a new position in TransAlta in the fourth quarter valued at $46,000. Hedge funds and other 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.
Further Reading
Before you consider TransAlta, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and TransAlta wasn't on the list.
While TransAlta currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
