TransAlta FY2024 EPS Lowered by National Bank Financial

TransAlta Co. (NYSE:TAC) (TSE:TA) – Analysts at National Bank Financial cut their FY2024 earnings per share (EPS) estimates for shares of TransAlta in a research note issued on Monday, January 6th. National Bank Financial analyst P. Kenny now expects that the utilities provider will post earnings per share of $0.42 for the year, down from their previous 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.

A number of other research firms have also recently commented on TAC. StockNews.com cut shares of TransAlta from a “buy” rating to a “hold” rating in a research note on Saturday, January 4th. Desjardins restated a “hold” rating on shares of TransAlta in a research report on Wednesday, November 6th. CIBC downgraded TransAlta from a “sector outperform” rating to a “neutral” rating in a report on Wednesday. Finally, Scotiabank raised TransAlta to a “strong-buy” rating in a research note on Thursday, December 5th.

TransAlta Stock Down 0.1 %

NYSE TAC opened at $13.25 on Thursday. The company has a quick ratio of 0.67, a current ratio of 0.74 and a debt-to-equity ratio of 2.94. TransAlta has a 52 week low of $5.94 and a 52 week high of $14.64. The firm has a market capitalization of $3.95 billion, a price-to-earnings ratio of 35.81 and a beta of 0.84. The company has a fifty day moving average of $12.35 and a two-hundred day moving average of $10.01.

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 issued a dividend of $0.0423 per share. The ex-dividend date is Friday, February 28th. This represents a $0.17 dividend on an annualized basis and a yield of 1.28%. TransAlta’s payout ratio is 45.95%.

Hedge Funds Weigh In On TransAlta

Hedge funds have recently added to or reduced their stakes in the stock. Yaupon Capital Management LP raised its position in TransAlta by 69.9% during the 3rd quarter. Yaupon Capital Management LP now owns 2,685,955 shares of the utilities provider’s stock valued at $27,840,000 after purchasing an additional 1,105,191 shares in the last quarter. Rubric Capital Management LP increased its stake in shares of TransAlta by 20.0% during the third quarter. Rubric Capital Management LP now owns 5,622,961 shares of the utilities provider’s stock valued at $58,254,000 after buying an additional 935,803 shares during the period. Potrero Capital Research LLC purchased a new position in shares of TransAlta during the third quarter valued at $5,088,000. Clayton Partners LLC raised its holdings in shares of TransAlta by 2,293.5% in the second quarter. Clayton Partners LLC now owns 458,155 shares of the utilities provider’s stock valued at $3,244,000 after acquiring an additional 439,013 shares in the last quarter. Finally, FMR LLC lifted its stake in TransAlta by 9.8% in the third quarter. FMR LLC now owns 4,593,023 shares of the utilities provider’s stock worth $47,613,000 after acquiring an additional 408,184 shares during the period. 59.00% of the stock is currently owned by institutional investors.

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.