Brokers Issue Forecasts for TransAlta FY2024 Earnings

TransAlta Co. (TSE:TA) (NYSE:TAC) – Investment analysts at National Bank Financial lifted their FY2024 earnings per share (EPS) estimates for TransAlta in a research report issued on Monday, January 6th. National Bank Financial analyst P. Kenny now anticipates that the company will post earnings per share of $0.61 for the year, up from their prior forecast of $0.60. National Bank Financial also issued estimates for TransAlta’s FY2026 earnings at $0.68 EPS and FY2027 earnings at $1.12 EPS.

Several other analysts have also recently issued reports on TA. Scotiabank raised shares of TransAlta to a “strong-buy” rating in a research note on Thursday, December 5th. Royal Bank of Canada boosted their price target on TransAlta from C$14.00 to C$16.00 in a research report on Wednesday, November 6th. TD Securities raised their price objective on TransAlta from C$16.00 to C$18.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. BMO Capital Markets boosted their target price on TransAlta from C$17.00 to C$22.00 in a report on Monday, December 16th. Finally, CIBC lowered shares of TransAlta from an “outperform” rating to a “neutral” rating and raised their price target for the company from C$17.00 to C$23.00 in a report on Wednesday. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$18.33.

TransAlta Price Performance

Shares of TSE:TA opened at C$19.12 on Thursday. The business has a fifty day simple moving average of C$17.45 and a 200-day simple moving average of C$13.74. TransAlta has a 52 week low of C$8.22 and a 52 week high of C$20.98. The company has a market cap of C$5.70 billion, a P/E ratio of 10.06, a P/E/G ratio of -0.07 and a beta of 0.93. The company has a quick ratio of 0.62, a current ratio of 0.84 and a debt-to-equity ratio of 219.87.

Insider Buying and Selling at TransAlta

In other TransAlta news, Senior Officer Jane Nyla Fedoretz sold 8,000 shares of the firm’s stock in a transaction on Thursday, November 28th. The stock was sold at an average price of C$15.49, for a total value of C$123,920.00. Also, Director John Harry Kousinioris sold 35,179 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of C$20.73, for a total transaction of C$729,260.67. Insiders sold a total of 204,763 shares of company stock worth $3,478,670 over the last 90 days. Insiders own 0.21% of the company’s stock.

TransAlta Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Sunday, December 1st were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date was Friday, November 29th. TransAlta’s dividend payout ratio 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.