TransAlta (NYSE:TAC) Upgraded 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 released on Friday morning.

A number of other equities analysts also recently commented on TAC. Scotiabank upgraded shares of TransAlta to a “strong-buy” rating in a research note on Thursday, December 5th. Desjardins reiterated a “hold” rating on shares of TransAlta in a report on Wednesday, November 6th.

TransAlta Stock Down 0.1 %

Shares of TransAlta stock opened at $14.24 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.74 and a debt-to-equity ratio of 2.94. TransAlta has a 52-week low of $5.94 and a 52-week high of $14.64. The company has a market capitalization of $4.24 billion, a P/E ratio of 38.49 and a beta of 0.91. The company has a 50 day moving average of $11.63 and a 200 day moving average of $9.57.

TransAlta Cuts Dividend

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

Hedge Funds Weigh In On TransAlta

Several large investors have recently bought and sold shares of TAC. Financial Management Professionals Inc. purchased a new stake in shares of TransAlta in the 3rd quarter valued at about $42,000. Quantbot Technologies LP purchased a new stake in TransAlta in the third quarter valued at approximately $61,000. Evergreen Capital Management LLC acquired a new stake in shares of TransAlta in the second quarter valued at approximately $72,000. Sage Rhino Capital LLC acquired a new stake in shares of TransAlta in the second quarter valued at approximately $79,000. Finally, Entropy Technologies LP purchased a new position in shares of TransAlta during the third quarter worth approximately $130,000. Institutional investors and hedge funds 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.