Analysts Issue Forecasts for TransAlta Q3 Earnings

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

TransAlta (NYSE:TAC) (TSE:TA) last released its earnings results on Thursday, August 1st. The utilities provider reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.08. The business had revenue of $425.37 million for the quarter. TransAlta had a return on equity of 47.71% and a net margin of 18.41%. During the same quarter in the previous year, the business earned $0.17 EPS.

Separately, StockNews.com downgraded shares of TransAlta from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, September 25th.

TransAlta Trading Up 0.1 %

NYSE TAC opened at $10.16 on Friday. TransAlta has a 12 month low of $5.94 and a 12 month high of $10.73. The company’s 50-day moving average price is $9.65 and its 200-day moving average price is $8.00. The stock has a market cap of $3.03 billion, a PE ratio of 6.73 and a beta of 0.92. The company has a current ratio of 0.84, a quick ratio of 0.75 and a debt-to-equity ratio of 3.43.

TransAlta Dividend Announcement

The company 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. This represents a $0.18 annualized dividend and a dividend yield of 1.73%. The ex-dividend date is Friday, November 29th. TransAlta’s dividend payout ratio is 11.26%.

Institutional Inflows and Outflows

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

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.