FY2024 EPS Estimates for TransAlta Cut by Atb Cap Markets

TransAlta Co. (NYSE:TAC - Free Report) TSE: TA - Investment analysts at Atb Cap Markets cut their FY2024 earnings per share estimates for TransAlta in a research note issued on Thursday, February 6th. Atb Cap Markets analyst N. Heywood now anticipates that the utilities provider will earn $0.59 per share for the year, down from their previous estimate of $0.66. The consensus estimate for TransAlta's current full-year earnings is $0.54 per share.

Other equities research analysts have also issued reports about the company. StockNews.com upgraded TransAlta from a "hold" rating to a "buy" rating in a research note on Tuesday. Desjardins reaffirmed 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 research report on Wednesday, January 8th. Scotiabank downgraded TransAlta from a "sector outperform" rating to a "sector perform" rating in a research report on Thursday, January 23rd. Finally, Cibc World Mkts downgraded TransAlta from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, January 8th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold".

TransAlta Trading Down 0.0 %

NYSE:TAC traded down $0.01 on Monday, hitting $10.40. 887,364 shares of the stock were exchanged, compared to its average volume of 2,059,692. The stock has a market cap of $3.09 billion, a PE ratio of 28.10 and a beta of 0.83. The company has a current ratio of 0.74, a quick ratio of 0.67 and a debt-to-equity ratio of 2.94. The stock has a fifty day moving average of $13.00 and a 200-day moving average of $10.84. TransAlta has a fifty-two week low of $5.94 and a fifty-two week high of $14.64.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in TransAlta by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 10,229,823 shares of the utilities provider's stock worth $144,680,000 after buying an additional 150,554 shares during the last quarter. Bank of Montreal Can increased its position in TransAlta by 8.4% in the 4th quarter. Bank of Montreal Can now owns 9,290,110 shares of the utilities provider's stock valued at $131,222,000 after acquiring an additional 716,139 shares during the period. FMR LLC increased its position in TransAlta by 79.7% in the 4th quarter. FMR LLC now owns 8,255,923 shares of the utilities provider's stock valued at $116,764,000 after acquiring an additional 3,662,900 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in TransAlta by 638.9% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,995,489 shares of the utilities provider's stock valued at $112,936,000 after acquiring an additional 6,913,431 shares during the period. Finally, Rubric Capital Management LP increased its position in TransAlta by 20.0% in the 3rd quarter. Rubric Capital Management LP now owns 5,622,961 shares of the utilities provider's stock valued at $58,254,000 after acquiring an additional 935,803 shares during the period. Institutional investors own 59.00% of the company's stock.

TransAlta Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Saturday, March 1st will be issued a $0.0423 dividend. This represents a $0.17 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date is Friday, February 28th. TransAlta's dividend payout ratio is currently 48.65%.

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.