TransAlta Corporation (TAC) Downgraded by BidaskClub to “Hold”

TransAlta Corporation (NYSE:TAC) (TSE:TA) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Wednesday, July 12th.

TAC has been the subject of several other research reports. Zacks Investment Research raised TransAlta Corporation from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 11th. TheStreet lowered TransAlta Corporation from a “c” rating to a “d+” rating in a research note on Friday, May 5th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. TransAlta Corporation presently has an average rating of “Hold” and an average price target of $6.83.

TransAlta Corporation (NYSE TAC) traded down 1.20% during trading on Wednesday, reaching $6.20. The company’s stock had a trading volume of 113,788 shares. The stock has a 50-day moving average price of $6.36 and a 200 day moving average price of $5.76. The company has a market cap of $1.86 billion, a PE ratio of 74.70 and a beta of 0.71. TransAlta Corporation has a 52-week low of $3.75 and a 52-week high of $6.60.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. acquired a new position in TransAlta Corporation during the fourth quarter worth approximately $3,192,000. Renaissance Technologies LLC raised its position in TransAlta Corporation by 37.2% in the fourth quarter. Renaissance Technologies LLC now owns 598,741 shares of the utilities provider’s stock worth $3,298,000 after buying an additional 162,400 shares during the last quarter. Two Sigma Investments LP raised its position in TransAlta Corporation by 159.4% in the fourth quarter. Two Sigma Investments LP now owns 169,695 shares of the utilities provider’s stock worth $938,000 after buying an additional 104,283 shares during the last quarter. Quadrature Capital Ltd acquired a new position in TransAlta Corporation during the fourth quarter worth approximately $256,000. Finally, James Investment Research Inc. acquired a new position in TransAlta Corporation during the first quarter worth approximately $1,637,000. 50.89% of the stock is owned by institutional investors and hedge funds.

About TransAlta Corporation

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.

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