TransAlta (NYSE:TAC) Downgraded to “Hold” Rating by Cibc World Mkts

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

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

TransAlta Price Performance

Shares of NYSE:TAC opened at $13.25 on Wednesday. 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 stock has a market capitalization of $3.95 billion, a PE ratio of 35.81 and a beta of 0.84. The firm has a 50 day moving average of $12.35 and a 200-day moving average of $10.01. TransAlta has a 12 month low of $5.94 and a 12 month high of $14.64.

Institutional Investors Weigh In On TransAlta

Hedge funds and other institutional investors have recently bought and sold shares of the company. Financial Management Professionals Inc. bought a new position in TransAlta in the third quarter valued at about $42,000. Quantbot Technologies LP bought a new position in TransAlta in the 3rd quarter valued at approximately $61,000. Evergreen Capital Management LLC acquired a new stake in TransAlta during the 2nd quarter worth approximately $72,000. Entropy Technologies LP bought a new stake in TransAlta during the 3rd quarter worth approximately $130,000. Finally, Blue Trust Inc. increased its position in TransAlta by 326.3% in 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 period. Institutional investors 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.