FY2024 EPS Estimates for TransAlta Co. Lifted by Analyst (NYSE:TAC)

TransAlta Co. (NYSE:TAC) (TSE:TA) – Atb Cap Markets boosted their FY2024 earnings estimates for shares of TransAlta in a report released on Thursday, August 1st. Atb Cap Markets analyst N. Heywood now expects that the utilities provider will post earnings per share of $0.86 for the year, up from their prior estimate of $0.84. The consensus estimate for TransAlta’s current full-year earnings is $0.75 per share. Atb Cap Markets also issued estimates for TransAlta’s Q1 2025 earnings at $0.20 EPS, Q3 2025 earnings at $0.24 EPS, Q4 2025 earnings at $0.05 EPS, FY2025 earnings at $0.49 EPS and FY2026 earnings at $0.45 EPS.

TransAlta (NYSE:TAC) (TSE:TA) last released its earnings results on Thursday, August 1st. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.08. The company had revenue of $425.37 million during the quarter. TransAlta had a net margin of 18.41% and a return on equity of 45.67%. During the same quarter in the previous year, the company earned $0.17 EPS.

TransAlta Stock Up 7.9 %

TransAlta stock opened at $8.21 on Monday. The company has a market capitalization of $2.48 billion, a P/E ratio of 5.30 and a beta of 0.88. The firm’s fifty day simple moving average is $7.19 and its 200-day simple moving average is $6.94. The company has a current ratio of 0.69, a quick ratio of 0.62 and a debt-to-equity ratio of 2.95. TransAlta has a 1-year low of $5.94 and a 1-year high of $10.40.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TAC. NBC Securities Inc. increased its holdings in shares of TransAlta by 156.3% during the 1st quarter. NBC Securities Inc. now owns 4,100 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 2,500 shares during the period. Clayton Partners LLC increased its holdings in shares of TransAlta by 15.7% during the 4th quarter. Clayton Partners LLC now owns 18,546 shares of the utilities provider’s stock worth $154,000 after purchasing an additional 2,517 shares during the period. DORCHESTER WEALTH MANAGEMENT Co increased its holdings in shares of TransAlta by 2.3% during the 1st quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 148,300 shares of the utilities provider’s stock worth $951,000 after purchasing an additional 3,375 shares during the period. 1832 Asset Management L.P. increased its holdings in shares of TransAlta by 50.3% during the 4th quarter. 1832 Asset Management L.P. now owns 11,576 shares of the utilities provider’s stock worth $96,000 after purchasing an additional 3,876 shares during the period. Finally, Blue Trust Inc. increased its stake in TransAlta by 1,381.5% in the second 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 during the period. 59.00% of the stock is currently owned by institutional investors and hedge funds.

TransAlta Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Sunday, September 1st will be issued a dividend of $0.044 per share. The ex-dividend date is Friday, August 30th. This represents a $0.18 dividend on an annualized basis and a dividend yield of 2.14%. This is an increase from TransAlta’s previous quarterly dividend of $0.04. TransAlta’s dividend payout ratio (DPR) is currently 10.97%.

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.