TransAlta (TAC) Upgraded at ValuEngine
ValuEngine upgraded shares of TransAlta (NYSE:TAC) (TSE:TA) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning.
A number of other analysts have also commented on the company. Scotiabank raised TransAlta from a sector perform rating to an outperform rating in a report on Wednesday. Zacks Investment Research lowered TransAlta from a hold rating to a sell rating in a report on Thursday, January 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $7.00.
Shares of TransAlta (NYSE:TAC) opened at $5.75 on Wednesday. The company has a market capitalization of $1,612.24, a price-to-earnings ratio of 115.02 and a beta of 0.58. TransAlta has a fifty-two week low of $5.00 and a fifty-two week high of $6.60. The company has a quick ratio of 0.92, a current ratio of 1.07 and a debt-to-equity ratio of 0.81.
Institutional investors and hedge funds have recently modified their holdings of the stock. Citadel Advisors LLC bought a new stake in shares of TransAlta in the third quarter worth $112,000. 440 Investment Group LLC bought a new stake in shares of TransAlta in the fourth quarter worth $119,000. Mariner Wealth Advisors LLC bought a new stake in shares of TransAlta in the fourth quarter worth $119,000. ARP Americas LLC bought a new stake in shares of TransAlta in the third quarter worth $160,000. Finally, SeaCrest Wealth Management LLC bought a new stake in shares of TransAlta in the fourth quarter worth $175,000. 51.40% of the stock is owned by institutional investors.
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TransAlta Corporation (TransAlta) is a non-regulated electricity generation and energy marketing company with an aggregate net ownership interest of approximately 8,720 megawatts of generating capacity. The Company is engaged in the production and sale of electric energy. It focuses on generating and marketing electricity in Canada, the United States and Western Australia through its diversified portfolio of facilities fuelled by coal, natural gas, diesel, hydro, wind and solar.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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