TransAlta Corporation (NYSE:TAC) Upgraded to Buy at BidaskClub
TransAlta Corporation (NYSE:TAC) (TSE:TA) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Tuesday.
Other equities analysts have also issued reports about the stock. TheStreet lowered shares of TransAlta Corporation from a “c” rating to a “d+” rating in a report on Friday, May 5th. Zacks Investment Research lowered shares of TransAlta Corporation from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $6.83.
TransAlta Corporation (NYSE TAC) traded up 0.385% during mid-day trading on Tuesday, hitting $6.525. 7,264 shares of the stock traded hands. The stock has a 50-day moving average price of $6.22 and a 200-day moving average price of $5.73. TransAlta Corporation has a 12 month low of $3.75 and a 12 month high of $6.60. The stock has a market cap of $1.88 billion, a P/E ratio of 42.928 and a beta of 0.71.
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A number of large investors have recently added to or reduced their stakes in TAC. World Asset Management Inc raised its stake in TransAlta Corporation by 0.4% in the first quarter. World Asset Management Inc now owns 17,762 shares of the utilities provider’s stock worth $104,000 after buying an additional 66 shares during the period. Wellington Management Group LLP acquired a new stake in TransAlta Corporation during the first quarter worth about $110,000. ING Groep NV acquired a new stake in TransAlta Corporation during the first quarter worth about $133,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in TransAlta Corporation by 21.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,818 shares of the utilities provider’s stock worth $146,000 after buying an additional 4,088 shares during the period. Finally, Parametric Portfolio Associates LLC raised its stake in TransAlta Corporation by 9.9% in the first quarter. Parametric Portfolio Associates LLC now owns 30,854 shares of the utilities provider’s stock worth $180,000 after buying an additional 2,787 shares during the period. Institutional investors own 50.89% of the company’s stock.
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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