TransAlta FY2024 EPS Cut by National Bank Financial

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

TransAlta Stock Performance

Shares of NYSE TAC opened at $13.27 on Thursday. The company has a 50-day simple moving average of $12.23 and a 200-day simple moving average of $9.95. 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 company has a market cap of $3.96 billion, a PE ratio of 35.87 and a beta of 0.84. TransAlta has a 12 month low of $5.94 and a 12 month high of $14.64.

Hedge Funds Weigh In On TransAlta

Several large investors have recently modified their holdings of TAC. Financial Management Professionals Inc. acquired a new position in TransAlta in the third quarter worth $42,000. Quantbot Technologies LP bought a new position in shares of TransAlta in the 3rd quarter worth about $61,000. Evergreen Capital Management LLC acquired a new position in shares of TransAlta in the 2nd quarter valued at about $72,000. Entropy Technologies LP bought a new stake in shares of TransAlta during the 3rd quarter valued at about $130,000. Finally, Blue Trust Inc. raised its stake in TransAlta by 326.3% during the third quarter. Blue Trust Inc. now owns 18,064 shares of the utilities provider’s stock worth $187,000 after acquiring an additional 13,827 shares during the period. Institutional investors own 59.00% of the company’s stock.

TransAlta Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Saturday, March 1st will be paid a $0.0423 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.17 dividend on an annualized basis and a dividend yield of 1.28%. TransAlta’s dividend payout ratio (DPR) is presently 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.