TransAlta (NYSE:TAC) Lowered to “Sector Perform” Rating by Scotiabank

TransAlta (NYSE:TAC) (TSE:TA) was downgraded by Scotiabank from a “sector outperform” rating to a “sector perform” rating in a research report issued on Thursday,Briefing.com Automated Import reports.

A number of other analysts have also recently weighed in on the stock. StockNews.com cut shares of TransAlta from a “buy” rating to a “hold” rating in a research note on Saturday, January 4th. Cibc World Mkts cut shares of TransAlta from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 8th. CIBC cut shares of TransAlta from a “sector outperform” rating to a “neutral” rating in a research note on Wednesday, January 8th. Finally, Desjardins reiterated a “hold” rating on shares of TransAlta in a research note on Wednesday, November 6th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

TransAlta Price Performance

Shares of TransAlta stock opened at $13.18 on Thursday. The firm has a fifty day simple moving average of $12.81 and a 200-day simple moving average of $10.39. The company has a current ratio of 0.74, a quick ratio of 0.67 and a debt-to-equity ratio of 2.94. TransAlta has a 1-year low of $5.94 and a 1-year high of $14.64. The stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of 35.54 and a beta of 0.84.

Institutional Investors Weigh In On TransAlta

Several large investors have recently made changes to their positions in the company. Financial Management Professionals Inc. bought a new stake in TransAlta during the 3rd quarter worth about $42,000. Quantbot Technologies LP bought a new stake in TransAlta during the 3rd quarter worth about $61,000. Evergreen Capital Management LLC bought a new stake in TransAlta during the 2nd quarter worth about $72,000. Entropy Technologies LP bought a new stake in TransAlta during the 3rd quarter worth about $130,000. Finally, Ballentine Partners LLC bought a new stake in TransAlta during the 4th quarter worth about $145,000. 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.