TransAlta (NYSE:TAC) Rating Lowered to “Buy” at StockNews.com

TransAlta (NYSE:TAC) (TSE:TA) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Wednesday.

Separately, Desjardins reiterated a “hold” rating on shares of TransAlta in a research report on Wednesday.

TransAlta Price Performance

Shares of TAC opened at $10.54 on Wednesday. The business’s 50-day moving average is $9.96 and its 200-day moving average is $8.27. The company has a debt-to-equity ratio of 3.43, a current ratio of 0.84 and a quick ratio of 0.75. The company has a market capitalization of $3.15 billion, a price-to-earnings ratio of 6.98 and a beta of 0.92. TransAlta has a fifty-two week low of $5.94 and a fifty-two week high of $11.10.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Janney Montgomery Scott LLC acquired a new stake in shares of TransAlta in the first quarter worth $66,000. Quantbot Technologies LP raised its holdings in TransAlta by 26.1% in the 1st quarter. Quantbot Technologies LP now owns 38,912 shares of the utilities provider’s stock worth $250,000 after acquiring an additional 8,058 shares during the period. Jupiter Asset Management Ltd. acquired a new position in TransAlta during the 1st quarter worth $3,779,000. Acadian Asset Management LLC grew its position in shares of TransAlta by 71.9% in the first quarter. Acadian Asset Management LLC now owns 643,988 shares of the utilities provider’s stock valued at $4,131,000 after purchasing an additional 269,444 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of TransAlta in the first quarter worth about $2,246,000. Institutional investors own 59.00% of the company’s stock.

About TransAlta

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.