TransAlta FY2024 EPS Estimate Cut by National Bank Financial

TransAlta Co. (NYSE:TAC) (TSE:TA) – National Bank Financial dropped their FY2024 EPS estimates for TransAlta in a report released 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 prior forecast 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.

Other equities analysts have also issued research reports about the company. Scotiabank raised TransAlta to a “strong-buy” rating in a research note on Thursday, December 5th. CIBC lowered TransAlta from a “sector outperform” rating to a “neutral” rating in a research note on Wednesday. Desjardins restated a “hold” rating on shares of TransAlta in a research report on Wednesday, November 6th. Finally, StockNews.com downgraded shares of TransAlta from a “buy” rating to a “hold” rating in a research note on Saturday, January 4th.

TransAlta Stock Down 2.5 %

NYSE:TAC opened at $13.27 on Thursday. The stock’s fifty day moving average price is $12.17 and its two-hundred day moving average price is $9.92. The company has a market cap of $3.96 billion, a price-to-earnings ratio of 35.87 and a beta of 0.84. TransAlta has a 52-week low of $5.94 and a 52-week high of $14.64. The company has a debt-to-equity ratio of 2.94, a quick ratio of 0.67 and a current ratio of 0.74.

TransAlta Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Saturday, March 1st will be issued a $0.0423 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.17 annualized dividend and a dividend yield of 1.28%. TransAlta’s dividend payout ratio (DPR) is currently 45.95%.

Hedge Funds Weigh In On TransAlta

Institutional investors and hedge funds have recently modified their holdings of the business. Franklin Resources Inc. lifted its stake in TransAlta by 190.6% in the 3rd quarter. Franklin Resources Inc. now owns 147,669 shares of the utilities provider’s stock valued at $1,550,000 after acquiring an additional 96,856 shares in the last quarter. Barclays PLC boosted its stake in shares of TransAlta by 281.5% during the 3rd quarter. Barclays PLC now owns 143,062 shares of the utilities provider’s stock worth $1,482,000 after buying an additional 105,562 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of TransAlta by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 122,621 shares of the utilities provider’s stock valued at $1,277,000 after acquiring an additional 2,524 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of TransAlta in the third quarter valued at about $1,812,000. Finally, Y Intercept Hong Kong Ltd raised its holdings in TransAlta by 27.4% during the third quarter. Y Intercept Hong Kong Ltd now owns 29,672 shares of the utilities provider’s stock worth $307,000 after acquiring an additional 6,385 shares in the last quarter. 59.00% of the stock is currently owned by institutional investors and hedge funds.

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.