TransAlta FY2024 EPS Decreased by National Bank Financial

TransAlta Co. (NYSE:TAC) (TSE:TA) – National Bank Financial lowered their FY2024 EPS estimates for shares of TransAlta in a note issued to investors on Tuesday, November 5th. National Bank Financial analyst P. Kenny now expects that the utilities provider will post earnings of $0.43 per share for the year, down from their prior forecast of $0.63. The consensus estimate for TransAlta’s current full-year earnings is $0.69 per share. National Bank Financial also issued estimates for TransAlta’s FY2025 earnings at $0.42 EPS.

A number of other equities analysts have also recently issued reports on the stock. Desjardins reiterated a “hold” rating on shares of TransAlta in a research note on Wednesday. StockNews.com cut shares of TransAlta from a “strong-buy” rating to a “buy” rating in a research note on Wednesday.

TransAlta Stock Performance

Shares of TransAlta stock opened at $10.54 on Friday. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of 6.98 and a beta of 0.92. The firm’s 50-day moving average is $9.96 and its 200 day moving average is $8.27. TransAlta has a 1 year low of $5.94 and a 1 year high of $11.10. The company has a debt-to-equity ratio of 3.43, a current ratio of 0.84 and a quick ratio of 0.75.

TransAlta Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Sunday, December 1st will be paid a dividend of $0.044 per share. This represents a $0.18 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Friday, November 29th. TransAlta’s dividend payout ratio is currently 11.26%.

Hedge Funds Weigh In On TransAlta

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Financial Management Professionals Inc. bought a new position in TransAlta during the 3rd quarter valued at about $42,000. Blue Trust Inc. lifted its stake in TransAlta by 1,381.5% during the 2nd quarter. Blue Trust Inc. now owns 4,237 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 3,951 shares during the period. Mather Group LLC. bought a new position in TransAlta during the 2nd quarter valued at about $64,000. Evergreen Capital Management LLC purchased a new stake in shares of TransAlta during the 2nd quarter valued at about $72,000. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of TransAlta during the 1st quarter valued at about $66,000. Institutional investors own 59.00% of the company’s stock.

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.