TransAlta FY2024 EPS Estimate Lowered by Atb Cap Markets

TransAlta Co. (NYSE:TAC) (TSE:TA) – Atb Cap Markets decreased their FY2024 earnings per share estimates for shares of TransAlta in a report released 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 previous estimate 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.

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

TransAlta Price Performance

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

TransAlta Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 1.67%. TransAlta’s dividend payout ratio (DPR) is 11.26%.

Hedge Funds Weigh In On TransAlta

Large investors have recently added to or reduced their stakes in the company. Blue Trust Inc. raised its holdings in TransAlta by 1,381.5% in the 2nd quarter. Blue Trust Inc. now owns 4,237 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 3,951 shares in the last quarter. Financial Management Professionals Inc. acquired a new position in shares of TransAlta in the 3rd quarter worth approximately $42,000. Mather Group LLC. acquired a new position in shares of TransAlta in the 2nd quarter worth approximately $64,000. Janney Montgomery Scott LLC acquired a new position in shares of TransAlta in the 1st quarter worth approximately $66,000. Finally, Evergreen Capital Management LLC acquired a new position in shares of TransAlta in the 2nd quarter worth approximately $72,000. Institutional investors and hedge funds 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.