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

Posted by James Quigley on Jan 6th, 2025

TransAlta (NYSE:TAC – Get Free Report) (TSE:TA) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Several other research firms have also recently weighed in on TAC. Desjardins reaffirmed a “hold” rating on shares of TransAlta in a research report on Wednesday, November 6th. Scotiabank upgraded TransAlta to a “strong-buy” rating in a research report on Thursday, December 5th.

Get Our Latest Stock Report on TAC

TransAlta Trading Up 0.8 %

Shares of TAC opened at $14.19 on Friday. TransAlta has a 1-year low of $5.94 and a 1-year high of $14.64. The company has a current ratio of 0.74, a quick ratio of 0.67 and a debt-to-equity ratio of 2.94. The firm’s 50-day moving average price is $12.03 and its 200-day moving average price is $9.81. The firm has a market capitalization of $4.23 billion, a price-to-earnings ratio of 38.35 and a beta of 0.84.

Institutional Investors Weigh In On TransAlta

Hedge funds and other institutional investors have recently bought and sold shares of the business. Financial Management Professionals Inc. bought a new stake in shares of TransAlta in the 3rd quarter worth approximately $42,000. Quantbot Technologies LP bought a new stake in TransAlta in the third quarter worth $61,000. Evergreen Capital Management LLC purchased a new stake in shares of TransAlta in the second quarter worth $72,000. Entropy Technologies LP bought a new position in shares of TransAlta during the third quarter valued at $130,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of TransAlta in the 2nd quarter worth about $172,000. Hedge funds and other institutional investors own 59.00% of the company’s stock.

TransAlta Company Profile

(Get Free Report)

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.