TransAlta FY2024 EPS Cut by National Bank Financial

TransAlta Co. (NYSE:TAC - Free Report) TSE: TA - Investment analysts at National Bank Financial lowered their FY2024 earnings estimates for shares of TransAlta in a research note issued on Tuesday, November 5th. National Bank Financial analyst P. Kenny now anticipates that the utilities provider will post earnings of $0.43 per share for the year, down from their prior estimate of $0.63. The consensus estimate for TransAlta's current full-year earnings is $0.65 per share. National Bank Financial also issued estimates for TransAlta's FY2025 earnings at $0.42 EPS.

TAC has been the topic of several other reports. Desjardins reaffirmed a "hold" rating on shares of TransAlta in a research note on Wednesday. StockNews.com lowered shares of TransAlta from a "strong-buy" rating to a "buy" rating in a report on Wednesday.

TransAlta Trading Down 2.3 %

Shares of TransAlta stock traded down $0.24 during trading on Friday, reaching $10.30. The company's stock had a trading volume of 634,732 shares, compared to its average volume of 759,893. The company has a quick ratio of 0.75, 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 $11.10. The firm's 50-day moving average is $9.96 and its two-hundred day moving average is $8.27. The company has a market cap of $3.07 billion, a price-to-earnings ratio of 27.73 and a beta of 0.92.

TransAlta Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Sunday, December 1st will be given a dividend of $0.044 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.18 annualized dividend and a yield of 1.71%. TransAlta's payout ratio is 45.95%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TAC. Jupiter Asset Management Ltd. bought a new position in shares of TransAlta during the first quarter valued at approximately $3,779,000. Clayton Partners LLC increased its position in TransAlta by 2,293.5% during the 2nd quarter. Clayton Partners LLC now owns 458,155 shares of the utilities provider's stock valued at $3,244,000 after buying an additional 439,013 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in TransAlta during the first quarter valued at $2,246,000. National Bank of Canada FI boosted its holdings in TransAlta by 9.0% in the second quarter. National Bank of Canada FI now owns 3,618,296 shares of the utilities provider's stock worth $25,267,000 after acquiring an additional 299,594 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in TransAlta by 71.9% in the first quarter. Acadian Asset Management LLC now owns 643,988 shares of the utilities provider's stock worth $4,131,000 after acquiring an additional 269,444 shares in the last quarter. Hedge funds and other 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.