Atb Cap Markets Decreases Earnings Estimates for TransAlta

TransAlta Co. (NYSE:TAC) (TSE:TA) – Analysts at Atb Cap Markets decreased their FY2024 earnings per share estimates for shares of TransAlta in a research report issued on Tuesday, November 5th. Atb Cap Markets analyst N. Heywood now forecasts that the utilities provider will earn $0.66 per share for the year, down from their prior forecast of $0.76. The consensus estimate for TransAlta’s current full-year earnings is $0.69 per share. Atb Cap Markets also issued estimates for TransAlta’s Q1 2025 earnings at $0.21 EPS and FY2026 earnings at $0.42 EPS.

A number of other equities research analysts have also commented on TAC. StockNews.com lowered TransAlta from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Desjardins reiterated a “hold” rating on shares of TransAlta in a research report on Wednesday.

TransAlta Stock Up 1.1 %

NYSE TAC opened at $10.54 on Thursday. The firm has a market cap of $3.15 billion, a PE ratio of 6.98 and a beta of 0.92. TransAlta has a one year low of $5.94 and a one year high of $11.10. The stock’s 50 day simple moving average is $9.96 and its 200 day simple moving average is $8.27. The company has a debt-to-equity ratio of 3.43, a current ratio of 0.84 and a quick ratio of 0.75.

Institutional Trading of TransAlta

Several hedge funds have recently added to or reduced their stakes in the business. Metis Global Partners LLC acquired a new stake in TransAlta during the 3rd quarter worth $360,000. Oppenheimer & Co. Inc. acquired a new stake in shares of TransAlta in the 3rd quarter valued at about $194,000. Entropy Technologies LP acquired a new stake in shares of TransAlta in the 3rd quarter valued at about $130,000. Tacita Capital Inc raised its stake in shares of TransAlta by 11.7% in the 3rd quarter. Tacita Capital Inc now owns 245,081 shares of the utilities provider’s stock valued at $2,544,000 after purchasing an additional 25,626 shares during the period. Finally, Financial Management Professionals Inc. acquired a new stake in shares of TransAlta in the 3rd quarter valued at about $42,000. Institutional investors and hedge funds own 59.00% of the company’s stock.

TransAlta Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Sunday, December 1st will be paid a dividend of $0.044 per share. This represents a $0.18 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Friday, November 29th. TransAlta’s payout ratio is presently 11.26%.

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.