Atb Cap Markets Estimates TransAlta’s Q3 Earnings (NYSE:TAC)

TransAlta Co. (NYSE:TAC) (TSE:TA) – Equities researchers at Atb Cap Markets dropped their Q3 2024 earnings per share (EPS) estimates for shares of TransAlta in a research report issued to clients and investors on Tuesday, October 22nd. Atb Cap Markets analyst N. Heywood now forecasts that the utilities provider will post earnings per share of $0.12 for the quarter, down from their prior forecast of $0.21. The consensus estimate for TransAlta’s current full-year earnings is $0.75 per share. Atb Cap Markets also issued estimates for TransAlta’s FY2024 earnings at $0.76 EPS.

TransAlta (NYSE:TAC) (TSE:TA) last released its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.08. The firm had revenue of $425.37 million for the quarter. TransAlta had a return on equity of 47.71% and a net margin of 18.41%. During the same quarter in the prior year, the company posted $0.17 EPS.

Separately, StockNews.com cut shares of TransAlta from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 25th.

TransAlta Stock Performance

Shares of TAC opened at $10.16 on Friday. The firm has a market cap of $3.03 billion, a price-to-earnings ratio of 6.73 and a beta of 0.92. The company’s fifty day moving average is $9.65 and its 200-day moving average is $8.02. The company has a quick ratio of 0.75, a current ratio of 0.84 and a debt-to-equity ratio of 3.43. TransAlta has a 12 month low of $5.94 and a 12 month high of $10.73.

TransAlta Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Sunday, December 1st will be paid a $0.044 dividend. This represents a $0.18 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date is Friday, November 29th. TransAlta’s payout ratio is 11.26%.

Institutional Trading of TransAlta

Institutional investors and hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. bought a new position in TransAlta in the 4th quarter worth $33,000. Financial Management Professionals Inc. bought a new position in shares of TransAlta in the third quarter worth about $42,000. Blue Trust Inc. lifted its position in shares of TransAlta by 1,381.5% during the 2nd quarter. Blue Trust Inc. now owns 4,237 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 3,951 shares during the last quarter. Mather Group LLC. acquired a new position in shares of TransAlta during the 2nd quarter worth about $64,000. Finally, Evergreen Capital Management LLC bought a new stake in TransAlta during the 2nd quarter valued at approximately $72,000. 59.00% of the stock is currently owned by institutional investors and hedge funds.

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.