FY2024 EPS Estimates for TransAlta Reduced by Analyst

TransAlta Co. (NYSE:TAC) (TSE:TA) – Investment analysts at National Bank Financial dropped their FY2024 earnings estimates for TransAlta in a report released on Monday, January 6th. National Bank Financial analyst P. Kenny now expects that the utilities provider will post earnings per share of $0.42 for the year, down from their previous forecast 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 research firms have also recently issued reports on TAC. CIBC cut shares of TransAlta from a “sector outperform” rating to a “neutral” rating in a research note on Wednesday. StockNews.com cut TransAlta from a “buy” rating to a “hold” rating in a research report on Saturday, January 4th. Scotiabank raised shares of TransAlta to a “strong-buy” rating in a research report on Thursday, December 5th. Finally, Desjardins reaffirmed a “hold” rating on shares of TransAlta in a report on Wednesday, November 6th.

TransAlta Stock Performance

Shares of TAC stock opened at $13.27 on Thursday. TransAlta has a fifty-two week low of $5.94 and a fifty-two week high of $14.64. The stock’s 50-day moving average is $12.17 and its two-hundred day moving average is $9.92. The company has a debt-to-equity ratio of 2.94, a current ratio of 0.74 and a quick ratio of 0.67. The firm has a market cap of $3.96 billion, a P/E ratio of 35.87 and a beta of 0.84.

Institutional Investors Weigh In On TransAlta

Several hedge funds have recently modified their holdings of the business. Financial Management Professionals Inc. bought a new stake in TransAlta in the 3rd quarter valued at $42,000. Quantbot Technologies LP bought a new stake in TransAlta in the 3rd quarter valued at $61,000. Evergreen Capital Management LLC acquired a new position in shares of TransAlta in the 2nd quarter valued at $72,000. Entropy Technologies LP bought a new position in shares of TransAlta during the 3rd quarter worth about $130,000. Finally, Blue Trust Inc. boosted its position in shares of TransAlta by 326.3% during 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 in the last quarter. 59.00% of the stock is owned by institutional investors.

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 given 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 currently 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.