TransAlta (NYSE:TAC) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of TransAlta (NYSE:TAC) (TSE:TA) from a hold rating to a buy rating in a research report sent to investors on Friday.

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

TransAlta Stock Down 0.1 %

TAC opened at $14.24 on Friday. The stock’s fifty day simple moving average is $11.56 and its 200 day simple moving average is $9.49. TransAlta has a 1-year low of $5.94 and a 1-year high of $14.64. The stock has a market cap of $4.24 billion, a PE ratio of 38.49 and a beta of 0.91. 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 Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Saturday, March 1st will be given a dividend of $0.0423 per share. This represents a $0.17 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend is Friday, February 28th. TransAlta’s payout ratio is 45.95%.

Institutional Investors Weigh In On TransAlta

A number of institutional investors have recently modified their holdings of TAC. Financial Management Professionals Inc. acquired a new stake in TransAlta during the third quarter worth approximately $42,000. Quantbot Technologies LP acquired a new stake in shares of TransAlta during the 3rd quarter worth $61,000. Evergreen Capital Management LLC bought a new position in shares of TransAlta in the second quarter worth $72,000. Sage Rhino Capital LLC acquired a new position in TransAlta in the second quarter valued at about $79,000. Finally, Entropy Technologies LP bought a new stake in TransAlta during the third quarter worth about $130,000. 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.