StockNews.com Upgrades TransAlta (NYSE:TAC) to Buy

TransAlta (NYSE:TAC) (TSE:TA) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.

Other research analysts have also issued reports about the company. Scotiabank upgraded TransAlta to a “strong-buy” rating in a report on Thursday, December 5th. Desjardins reiterated a “hold” rating on shares of TransAlta in a report on Wednesday, November 6th.

TransAlta Trading Down 0.1 %

Shares of NYSE TAC opened at $14.24 on Friday. TransAlta has a twelve month low of $5.94 and a twelve month high of $14.64. The stock has a market cap of $4.24 billion, a price-to-earnings ratio of 38.49 and a beta of 0.91. The company has a quick ratio of 0.67, a current ratio of 0.74 and a debt-to-equity ratio of 2.94. The company’s fifty day moving average is $11.63 and its 200-day moving average is $9.56.

Institutional Investors Weigh In On TransAlta

A number of hedge funds and other institutional investors have recently bought and sold shares of TAC. Allspring Global Investments Holdings LLC bought a new stake in TransAlta during the second quarter worth $172,000. Signaturefd LLC raised its holdings in shares of TransAlta by 173.4% in the 2nd quarter. Signaturefd LLC now owns 21,199 shares of the utilities provider’s stock valued at $150,000 after purchasing an additional 13,444 shares during the period. Sage Rhino Capital LLC acquired a new stake in TransAlta in the 2nd quarter valued at about $79,000. Intact Investment Management Inc. grew its holdings in TransAlta by 5.6% during the second quarter. Intact Investment Management Inc. now owns 1,912,250 shares of the utilities provider’s stock worth $13,557,000 after purchasing an additional 101,200 shares during the period. Finally, National Bank of Canada FI increased its position in TransAlta by 9.0% during the second quarter. National Bank of Canada FI now owns 3,618,296 shares of the utilities provider’s stock worth $25,267,000 after buying an additional 299,594 shares during the last quarter. Institutional investors and hedge funds 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.