TransAlta FY2024 EPS Increased by National Bank Financial

TransAlta Co. (TSE:TA) (NYSE:TAC) – Research analysts at National Bank Financial upped their FY2024 earnings estimates for TransAlta in a report released on Monday, January 6th. National Bank Financial analyst P. Kenny now forecasts that the company will earn $0.61 per share for the year, up from their prior estimate 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.

Other research analysts have also recently issued research reports about the stock. Royal Bank of Canada lifted their price objective on shares of TransAlta from C$14.00 to C$16.00 in a report on Wednesday, November 6th. TD Securities increased their price objective on TransAlta from C$16.00 to C$18.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Scotiabank raised TransAlta to a “strong-buy” rating in a research note on Thursday, December 5th. BMO Capital Markets lifted their price objective on TransAlta from C$17.00 to C$22.00 in a research note on Monday, December 16th. Finally, Desjardins increased their price objective on shares of TransAlta from C$15.50 to C$16.00 and gave the company a “hold” rating in a research report on Wednesday, December 18th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$18.33.

TransAlta Stock Down 2.4 %

Shares of TSE:TA opened at C$19.08 on Thursday. The company has a quick ratio of 0.62, a current ratio of 0.84 and a debt-to-equity ratio of 219.87. The business has a fifty day moving average of C$17.27 and a two-hundred day moving average of C$13.63. TransAlta has a 52-week low of C$8.22 and a 52-week high of C$20.98. The stock has a market cap of C$5.69 billion, a P/E ratio of 10.04, a PEG ratio of -0.07 and a beta of 0.93.

TransAlta Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Sunday, December 1st were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.26%. TransAlta’s payout ratio is 12.63%.

Insiders Place Their Bets

In other TransAlta news, Senior Officer Jane Nyla Fedoretz sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of C$15.11, for a total value of C$377,750.00. Also, Director John Harry Kousinioris sold 69,982 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of C$15.15, for a total transaction of C$1,060,227.30. Insiders sold 204,763 shares of company stock worth $3,478,670 over the last three months. 0.21% of the stock is owned by insiders.

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.