TransAlta FY2024 EPS Reduced by National Bank Financial

TransAlta Co. (NYSE:TAC) (TSE:TA) – Research analysts at National Bank Financial cut their FY2024 earnings estimates for TransAlta in a research report issued to clients and investors on Monday, January 6th. National Bank Financial analyst P. Kenny now anticipates that the utilities provider will earn $0.42 per share 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 equities research analysts have also recently weighed in on TAC. Scotiabank raised TransAlta to a “strong-buy” rating in a report on Thursday, December 5th. CIBC downgraded TransAlta from a “sector outperform” rating to a “neutral” rating in a research note on Wednesday. Desjardins reissued a “hold” rating on shares of TransAlta in a research note on Wednesday, November 6th. Finally, StockNews.com cut shares of TransAlta from a “buy” rating to a “hold” rating in a research note on Saturday, January 4th.

TransAlta Trading Down 2.5 %

TransAlta stock opened at $13.27 on Thursday. TransAlta has a 52-week low of $5.94 and a 52-week high of $14.64. The company has a quick ratio of 0.67, a current ratio of 0.74 and a debt-to-equity ratio of 2.94. The firm has a market capitalization of $3.96 billion, a price-to-earnings ratio of 35.87 and a beta of 0.84. The firm has a 50-day moving average price of $12.23 and a two-hundred day moving average price of $9.95.

Institutional Trading of TransAlta

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

TransAlta Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Saturday, March 1st will be paid a dividend of $0.0423 per share. 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 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.