FY2024 EPS Estimates for TransAlta Cut by Analyst

TransAlta Co. (NYSE:TAC - Free Report) TSE: TA - Investment analysts at National Bank Financial decreased their FY2024 earnings per share (EPS) estimates for shares of TransAlta in a report 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.

Other equities research analysts also recently issued reports about the stock. Desjardins reiterated a "hold" rating on shares of TransAlta in a research note on Wednesday, November 6th. StockNews.com downgraded shares of TransAlta from a "buy" rating to a "hold" rating in a research report on Saturday, January 4th. 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 report on Thursday, December 5th.

TransAlta Price Performance

Shares of NYSE:TAC traded down $0.34 during trading on Thursday, reaching $13.27. 2,791,496 shares of the company traded hands, compared to its average volume of 1,892,558. 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 $3.96 billion, a PE ratio of 35.87 and a beta of 0.84. The company's 50 day moving average is $12.23 and its two-hundred day moving average is $9.95.

Institutional Trading of TransAlta

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Financial Management Professionals Inc. bought a new stake in TransAlta during the 3rd quarter worth $42,000. Quantbot Technologies LP acquired a new stake in shares of TransAlta during the third quarter valued at about $61,000. Evergreen Capital Management LLC bought a new stake in shares of TransAlta during the second quarter worth about $72,000. Entropy Technologies LP acquired a new position in shares of TransAlta in the third quarter valued at approximately $130,000. Finally, Blue Trust Inc. raised its holdings in TransAlta by 326.3% in the 3rd quarter. Blue Trust Inc. now owns 18,064 shares of the utilities provider's stock valued at $187,000 after buying an additional 13,827 shares during the last quarter. Institutional investors own 59.00% of the company's stock.

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 paid a $0.0423 dividend. This represents a $0.17 annualized dividend and a yield of 1.28%. The ex-dividend date is Friday, February 28th. TransAlta's payout ratio is 45.95%.

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.