StockNews.com Upgrades TransAlta (NYSE:TAC) to “Strong-Buy”

TransAlta (NYSE:TAC) (TSE:TA) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Monday.

A number of other equities analysts have also recently issued reports on the stock. TheStreet raised shares of TransAlta from a “d+” rating to a “c” rating in a report on Tuesday, November 7th. TD Securities started coverage on TransAlta in a research report on Friday, October 6th. They set a “buy” rating on the stock. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $16.00.

TransAlta Trading Up 3.8 %

TransAlta stock opened at $8.41 on Monday. TransAlta has a 1 year low of $7.22 and a 1 year high of $10.40. The firm’s 50-day moving average is $8.49 and its 200-day moving average is $9.30. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.43 and a current ratio of 1.54. The company has a market cap of $2.61 billion, a P/E ratio of 5.32 and a beta of 1.07.

Institutional Investors Weigh In On TransAlta

Hedge funds have recently made changes to their positions in the business. Financial Management Professionals Inc. acquired a new stake in TransAlta in the 2nd quarter valued at approximately $29,000. Pacifica Partners Inc. increased its holdings in shares of TransAlta by 766.3% during the third quarter. Pacifica Partners Inc. now owns 3,465 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 3,065 shares during the period. Lazard Asset Management LLC acquired a new position in shares of TransAlta during the third quarter valued at $33,000. Tower Research Capital LLC TRC raised its stake in shares of TransAlta by 234.6% during the third quarter. Tower Research Capital LLC TRC now owns 4,367 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 3,062 shares in the last quarter. Finally, 1832 Asset Management L.P. lifted its holdings in TransAlta by 153.2% in the first quarter. 1832 Asset Management L.P. now owns 5,497 shares of the utilities provider’s stock worth $56,000 after purchasing an additional 3,326 shares during the period. Institutional investors own 64.93% 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 has a net ownership interest of approximately 922 megawatts (MW) of owned hydro electrical-generating capacity located in Alberta, British Columbia, and Ontario.