TransAlta (NYSE:TAC) Rating Lowered to “Hold” at Cibc World Mkts

TransAlta (NYSE:TAC) (TSE:TA) was downgraded by stock analysts at Cibc World Mkts from a “strong-buy” rating to a “hold” rating in a research report issued on Wednesday,Zacks.com reports.

Several other brokerages have also recently issued reports on TAC. StockNews.com cut TransAlta from a “buy” rating to a “hold” rating in a research note on Saturday, January 4th. CIBC lowered shares of TransAlta from a “sector outperform” rating to a “neutral” rating in a report on Wednesday. Desjardins restated a “hold” rating on shares of TransAlta in a report on Wednesday, November 6th. Finally, Scotiabank raised TransAlta to a “strong-buy” rating in a research report on Thursday, December 5th. Four research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold”.

TransAlta Trading Down 0.1 %

Shares of TAC stock opened at $13.25 on Wednesday. The stock’s 50 day simple moving average is $12.35 and its two-hundred day simple moving average is $10.01. TransAlta has a 1 year low of $5.94 and a 1 year high of $14.64. The company has a market cap of $3.95 billion, a PE ratio of 35.81 and a beta of 0.84. The company has a debt-to-equity ratio of 2.94, a current ratio of 0.74 and a quick ratio of 0.67.

Institutional Trading of TransAlta

Several institutional investors have recently modified their holdings of TAC. Financial Management Professionals Inc. acquired a new stake in shares of TransAlta in the third quarter valued at approximately $42,000. Quantbot Technologies LP purchased a new stake in TransAlta in the 3rd quarter valued at $61,000. Evergreen Capital Management LLC acquired a new stake in shares of TransAlta in the 2nd quarter worth $72,000. Entropy Technologies LP purchased a new position in shares of TransAlta during the 3rd quarter worth $130,000. Finally, Blue Trust Inc. boosted its position in shares of TransAlta by 326.3% during the 3rd 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 last quarter. Institutional investors and hedge funds own 59.00% of the company’s stock.

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.