TransAlta FY2024 EPS Forecast Decreased by Atb Cap Markets

TransAlta Co. (TSE:TA) (NYSE:TAC) – Investment analysts at Atb Cap Markets reduced their FY2024 EPS estimates for shares of TransAlta in a research report issued to clients and investors on Tuesday, November 5th. Atb Cap Markets analyst N. Heywood now anticipates that the company will post earnings of $0.91 per share for the year, down from their prior forecast of $1.06. Atb Cap Markets also issued estimates for TransAlta’s Q1 2025 earnings at $0.29 EPS and FY2026 earnings at $0.58 EPS.

Several other research analysts also recently weighed in on the company. Desjardins downgraded TransAlta from a “moderate buy” rating to a “hold” rating in a research note on Tuesday. BMO Capital Markets boosted their price target on TransAlta from C$16.00 to C$17.00 in a research note on Thursday, September 5th. Royal Bank of Canada increased their price objective on shares of TransAlta from C$14.00 to C$16.00 in a research report on Wednesday. National Bankshares boosted their target price on shares of TransAlta from C$14.00 to C$15.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Finally, TD Securities raised their price target on shares of TransAlta from C$16.00 to C$18.00 and gave the stock a “buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$16.17.

TransAlta Price Performance

TSE TA opened at C$14.53 on Thursday. The firm’s fifty day simple moving average is C$13.45 and its two-hundred day simple moving average is C$11.14. The firm has a market capitalization of C$4.33 billion, a P/E ratio of 7.65, a P/E/G ratio of -0.07 and a beta of 0.93. The company has a current ratio of 0.84, a quick ratio of 0.62 and a debt-to-equity ratio of 219.87. TransAlta has a 12-month low of C$8.22 and a 12-month high of C$15.37.

Insider Activity at TransAlta

In other news, Senior Officer Jane Nyla Fedoretz sold 20,000 shares of the company’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of C$13.92, for a total value of C$278,400.00. In other news, Senior Officer Kerry Lynn O’reilly sold 48,833 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of C$10.99, for a total transaction of C$536,674.67. Also, Senior Officer Jane Nyla Fedoretz sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of C$13.92, for a total value of C$278,400.00. Insiders sold 78,839 shares of company stock worth $929,648 over the last three months. Company insiders own 0.21% of the company’s stock.

TransAlta Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Sunday, December 1st will be issued a dividend of $0.06 per share. The ex-dividend date is Friday, November 29th. This represents a $0.24 annualized dividend and a dividend yield of 1.65%. TransAlta’s dividend payout ratio (DPR) is presently 12.63%.

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.