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.

Several other research firms have also commented on TAC. StockNews.com lowered shares of TransAlta from a “buy” rating to a “hold” rating in a report on Saturday, January 4th. Cibc World Mkts lowered shares of TransAlta from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 8th. Desjardins reaffirmed a “hold” rating on shares of TransAlta in a report on Wednesday, November 6th. Finally, CIBC lowered shares of TransAlta from a “sector outperform” rating to a “neutral” rating in a report on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

TransAlta Price Performance

Shares of TAC stock opened at $13.18 on Thursday. The firm has a market cap of $3.92 billion, a P/E ratio of 35.54 and a beta of 0.84. The company has a debt-to-equity ratio of 2.94, a current ratio of 0.74 and a quick ratio of 0.67. TransAlta has a 1-year low of $5.94 and a 1-year high of $14.64. The firm has a fifty day moving average of $12.81 and a two-hundred day moving average of $10.39.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TAC. Financial Management Professionals Inc. purchased a new position in TransAlta during the third quarter valued at approximately $42,000. Quantbot Technologies LP acquired a new stake in TransAlta in the third quarter valued at approximately $61,000. Evergreen Capital Management LLC acquired a new stake in TransAlta in the second quarter valued at approximately $72,000. Entropy Technologies LP acquired a new stake in TransAlta in the third quarter valued at approximately $130,000. Finally, Ballentine Partners LLC acquired a new stake in TransAlta in the fourth quarter valued at approximately $145,000. 59.00% of the stock is owned by hedge funds and other institutional investors.

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.