TransAlta (NYSE:TAC) Downgraded to Neutral Rating by CIBC

TransAlta (NYSE:TAC) (TSE:TA) was downgraded by research analysts at CIBC from a “sector outperform” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, Marketbeat reports.

TAC has been the topic of a number of other reports. Scotiabank upgraded shares of TransAlta to a “strong-buy” rating in a research report on Thursday, December 5th. Desjardins restated a “hold” rating on shares of TransAlta in a report on Wednesday, November 6th. Finally, StockNews.com lowered TransAlta from a “buy” rating to a “hold” rating in a research report on Saturday, January 4th.

TransAlta Trading Down 2.5 %

Shares of TAC stock opened at $13.27 on Wednesday. TransAlta has a fifty-two week low of $5.94 and a fifty-two week high of $14.64. The company has a debt-to-equity ratio of 2.94, a quick ratio of 0.67 and a current ratio of 0.74. The stock’s fifty day moving average is $12.23 and its two-hundred day moving average is $9.95. The firm has a market capitalization of $3.96 billion, a P/E ratio of 35.87 and a beta of 0.84.

Institutional Trading of TransAlta

Institutional investors have recently made changes to their positions in the company. Yaupon Capital Management LP increased its stake in TransAlta by 69.9% during the third quarter. Yaupon Capital Management LP now owns 2,685,955 shares of the utilities provider’s stock worth $27,840,000 after acquiring an additional 1,105,191 shares during the last quarter. Rubric Capital Management LP increased its position in shares of TransAlta by 20.0% during the 3rd quarter. Rubric Capital Management LP now owns 5,622,961 shares of the utilities provider’s stock worth $58,254,000 after purchasing an additional 935,803 shares during the last quarter. Potrero Capital Research LLC purchased a new stake in TransAlta in the 3rd quarter valued at about $5,088,000. Clayton Partners LLC lifted its position in TransAlta by 2,293.5% in the second quarter. Clayton Partners LLC now owns 458,155 shares of the utilities provider’s stock valued at $3,244,000 after buying an additional 439,013 shares during the last quarter. Finally, FMR LLC boosted its stake in TransAlta by 9.8% during the third quarter. FMR LLC now owns 4,593,023 shares of the utilities provider’s stock worth $47,613,000 after buying an additional 408,184 shares during the period. Hedge funds and other institutional investors 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.