TransAlta (NYSE:TAC) Downgraded by StockNews.com to Hold

TransAlta (NYSE:TAC) (TSE:TA) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Thursday.

A number of other analysts also recently commented on TAC. Scotiabank upgraded TransAlta to a “strong-buy” rating in a research report on Thursday, December 5th. Desjardins reiterated a “hold” rating on shares of TransAlta in a research report on Wednesday, November 6th.

TransAlta Price Performance

Shares of NYSE:TAC traded down $0.05 during trading on Thursday, hitting $13.91. 1,574,326 shares of the stock were exchanged, compared to its average volume of 808,197. The company has a market cap of $4.15 billion, a PE ratio of 37.60 and a beta of 0.91. 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 company has a fifty day moving average price of $11.18 and a two-hundred day moving average price of $9.25. TransAlta has a 12-month low of $5.94 and a 12-month high of $14.64.

Institutional Trading of TransAlta

Several institutional investors and hedge funds have recently made changes to their positions in TAC. Franklin Resources Inc. boosted its position in TransAlta by 190.6% during the third 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 during the last quarter. Barclays PLC increased its stake in TransAlta by 281.5% in the third quarter. Barclays PLC now owns 143,062 shares of the utilities provider’s stock valued at $1,482,000 after purchasing an additional 105,562 shares during the last quarter. Geode Capital Management LLC grew its holdings in TransAlta by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 122,621 shares of the utilities provider’s stock valued at $1,277,000 after buying an additional 2,524 shares during the period. Public Employees Retirement System of Ohio purchased a new position in shares of TransAlta during the 3rd quarter worth about $1,812,000. Finally, Y Intercept Hong Kong Ltd boosted its position in shares of TransAlta by 27.4% in the third quarter. Y Intercept Hong Kong Ltd now owns 29,672 shares of the utilities provider’s stock worth $307,000 after acquiring an additional 6,385 shares during the last quarter. 59.00% of the stock is currently owned by hedge funds and other institutional investors.

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.