National Bank Financial Estimates TransAlta FY2024 Earnings

TransAlta Co. (NYSE:TAC) (TSE:TA) – National Bank Financial dropped their FY2024 EPS estimates for shares of TransAlta in a report released on Tuesday, November 5th. National Bank Financial analyst P. Kenny now forecasts that the utilities provider will earn $0.43 per share for the year, down from their previous forecast of $0.63. The consensus estimate for TransAlta’s current full-year earnings is $0.65 per share. National Bank Financial also issued estimates for TransAlta’s FY2025 earnings at $0.42 EPS.

Several other analysts have also recently issued reports on TAC. Desjardins reaffirmed a “hold” rating on shares of TransAlta in a report on Wednesday. StockNews.com cut shares of TransAlta from a “strong-buy” rating to a “buy” rating in a research note on Wednesday.

TransAlta Price Performance

NYSE:TAC opened at $10.30 on Friday. The company has a market capitalization of $3.07 billion, a P/E ratio of 27.84 and a beta of 0.92. The business’s 50-day moving average is $9.99 and its 200 day moving average is $8.29. The company has a current ratio of 0.74, a quick ratio of 0.75 and a debt-to-equity ratio of 2.94. TransAlta has a 12 month low of $5.94 and a 12 month high of $11.10.

TransAlta Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Sunday, December 1st will be paid a $0.044 dividend. This represents a $0.18 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Friday, November 29th. TransAlta’s payout ratio is 45.95%.

Hedge Funds Weigh In On TransAlta

Large investors have recently modified their holdings of the stock. Clear Harbor Asset Management LLC purchased a new position in TransAlta during the second quarter worth $514,000. Jupiter Asset Management Ltd. purchased a new position in shares of TransAlta during the 1st quarter worth about $3,779,000. Skandinaviska Enskilda Banken AB publ grew its holdings in TransAlta by 122.7% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 143,400 shares of the utilities provider’s stock valued at $1,015,000 after purchasing an additional 79,000 shares during the last quarter. Clayton Partners LLC raised its position in 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 purchasing an additional 439,013 shares during the period. Finally, Acadian Asset Management LLC lifted its stake in TransAlta by 71.9% in the first quarter. Acadian Asset Management LLC now owns 643,988 shares of the utilities provider’s stock worth $4,131,000 after purchasing an additional 269,444 shares during the last quarter. Institutional investors own 59.00% of the company’s stock.

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.