TransAlta Corporation (NYSE:TAC) (TSE:TA) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

A number of other research firms also recently weighed in on TAC. Zacks Investment Research downgraded shares of TransAlta Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 18th. TheStreet downgraded shares of TransAlta Corporation from a “c” rating to a “d+” rating in a research report on Friday, May 5th. Six analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and an average price target of $7.00.

Shares of TransAlta Corporation (NYSE TAC) traded up 0.80% during mid-day trading on Wednesday, hitting $6.30. 9,687 shares of the stock traded hands. The stock has a market cap of $1.81 billion, a PE ratio of 41.45 and a beta of 0.71. The stock has a 50-day moving average of $6.37 and a 200 day moving average of $5.76. TransAlta Corporation has a one year low of $3.75 and a one year high of $6.60.

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Institutional investors have recently made changes to their positions in the company. World Asset Management Inc boosted its position in shares of TransAlta Corporation by 0.4% in the first quarter. World Asset Management Inc now owns 17,762 shares of the utilities provider’s stock valued at $104,000 after buying an additional 66 shares during the period. Parametric Portfolio Associates LLC boosted its position in shares of TransAlta Corporation by 2.5% in the second quarter. Parametric Portfolio Associates LLC now owns 31,629 shares of the utilities provider’s stock valued at $202,000 after buying an additional 775 shares during the period. Stifel Financial Corp boosted its position in shares of TransAlta Corporation by 4.0% in the second quarter. Stifel Financial Corp now owns 26,300 shares of the utilities provider’s stock valued at $137,000 after buying an additional 1,000 shares during the period. Bank of Nova Scotia Trust Co. boosted its position in shares of TransAlta Corporation by 6.0% in the second quarter. Bank of Nova Scotia Trust Co. now owns 26,375 shares of the utilities provider’s stock valued at $169,000 after buying an additional 1,502 shares during the period. Finally, Shell Asset Management Co. boosted its position in shares of TransAlta Corporation by 13.0% in the first quarter. Shell Asset Management Co. now owns 27,800 shares of the utilities provider’s stock valued at $217,000 after buying an additional 3,200 shares during the period. Hedge funds and other institutional investors own 50.86% of the company’s stock.

TransAlta Corporation Company Profile

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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