National Bank Financial Predicts TransAlta Q3 Earnings

TransAlta Co. (NYSE:TAC) (TSE:TA) – Analysts at National Bank Financial issued their Q3 2024 EPS estimates for TransAlta in a note issued to investors on Wednesday, October 23rd. National Bank Financial analyst P. Kenny anticipates that the utilities provider will post earnings per share of $0.14 for the quarter. The consensus estimate for TransAlta’s current full-year earnings is $0.75 per share.

TransAlta (NYSE:TAC) (TSE:TA) last announced its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.08. TransAlta had a net margin of 18.41% and a return on equity of 47.71%. The company had revenue of $425.37 million during the quarter. During the same period in the prior year, the business earned $0.17 earnings per share.

Separately, StockNews.com lowered TransAlta from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, September 25th.

TransAlta Trading Up 0.1 %

NYSE:TAC opened at $10.16 on Friday. The company has a market cap of $3.03 billion, a PE ratio of 6.73 and a beta of 0.92. The business’s 50 day moving average is $9.65 and its two-hundred day moving average is $8.02. The company has a quick ratio of 0.75, a current ratio of 0.84 and a debt-to-equity ratio of 3.43. TransAlta has a 52 week low of $5.94 and a 52 week high of $10.73.

Institutional Trading of TransAlta

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in TransAlta by 25.3% during the 4th quarter. Vanguard Group Inc. now owns 10,498,451 shares of the utilities provider’s stock worth $87,242,000 after buying an additional 2,116,907 shares during the last quarter. Jupiter Asset Management Ltd. bought a new position in shares of TransAlta during the first quarter worth about $3,779,000. Clayton Partners LLC increased its holdings in shares of TransAlta by 2,293.5% in the 2nd quarter. Clayton Partners LLC now owns 458,155 shares of the utilities provider’s stock worth $3,244,000 after acquiring an additional 439,013 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in TransAlta in the 1st quarter valued at about $2,246,000. Finally, National Bank of Canada FI boosted its stake in TransAlta by 9.0% during the 2nd quarter. National Bank of Canada FI now owns 3,618,296 shares of the utilities provider’s stock valued at $25,267,000 after purchasing an additional 299,594 shares during the period. 59.00% of the stock is currently owned by institutional investors and hedge funds.

TransAlta Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Sunday, December 1st will be issued a $0.044 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.18 dividend on an annualized basis and a yield of 1.73%. TransAlta’s dividend payout ratio is currently 11.26%.

TransAlta Company Profile

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.