National Bank Financial Estimates TransAlta FY2024 Earnings

TransAlta Co. (NYSE:TAC) (TSE:TA) – Research analysts at National Bank Financial reduced their FY2024 earnings per share (EPS) estimates for shares of TransAlta in a report released on Monday, January 6th. National Bank Financial analyst P. Kenny now forecasts that the utilities provider will post earnings per share of $0.42 for the year, down from their prior estimate of $0.43. The consensus estimate for TransAlta’s current full-year earnings is $0.55 per share. National Bank Financial also issued estimates for TransAlta’s FY2026 earnings at $0.47 EPS and FY2027 earnings at $0.78 EPS.

A number of other equities analysts also recently commented on the stock. Scotiabank upgraded shares of TransAlta to a “strong-buy” rating in a report on Thursday, December 5th. StockNews.com lowered shares of TransAlta from a “buy” rating to a “hold” rating in a research note on Saturday, January 4th. CIBC downgraded shares of TransAlta from a “sector outperform” rating to a “neutral” rating in a research note on Wednesday. Finally, Desjardins reaffirmed a “hold” rating on shares of TransAlta in a report on Wednesday, November 6th.

TransAlta Trading Down 0.1 %

Shares of NYSE TAC opened at $13.25 on Thursday. TransAlta has a 1-year low of $5.94 and a 1-year high of $14.64. The business has a fifty day moving average price of $12.35 and a 200 day moving average price of $10.01. The stock has a market capitalization of $3.95 billion, a P/E ratio of 35.81 and a beta of 0.84. The company has a debt-to-equity ratio of 2.94, a current ratio of 0.74 and a quick ratio of 0.67.

Hedge Funds Weigh In On TransAlta

Several hedge funds have recently modified their holdings of TAC. Financial Management Professionals Inc. purchased a new stake in TransAlta during the 3rd quarter worth approximately $42,000. Quantbot Technologies LP acquired a new stake in shares of TransAlta during the third quarter worth $61,000. Evergreen Capital Management LLC acquired a new stake in shares of TransAlta during the second quarter worth $72,000. Entropy Technologies LP purchased a new stake in shares of TransAlta during the third quarter valued at $130,000. Finally, Blue Trust Inc. increased its position in shares of TransAlta by 326.3% in the 3rd quarter. Blue Trust Inc. now owns 18,064 shares of the utilities provider’s stock valued at $187,000 after acquiring an additional 13,827 shares during the period. Institutional investors and hedge funds own 59.00% of the company’s stock.

TransAlta Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Saturday, March 1st will be issued a $0.0423 dividend. This represents a $0.17 annualized dividend and a yield of 1.28%. The ex-dividend date is Friday, February 28th. TransAlta’s dividend payout ratio is presently 45.95%.

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.