TransAlta FY2024 EPS Boosted by National Bank Financial

TransAlta Co. (TSE:TA - Free Report) NYSE: TAC - Research analysts at National Bank Financial increased their FY2024 EPS estimates for TransAlta in a report released on Monday, January 6th. National Bank Financial analyst P. Kenny now expects that the company will post earnings of $0.61 per share for the year, up from their previous 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 analysts have also issued research reports about the stock. Scotiabank raised shares of TransAlta to a "strong-buy" rating in a report on Thursday, December 5th. CIBC cut shares of TransAlta from an "outperform" rating to a "neutral" rating and upped their price target for the stock from C$17.00 to C$23.00 in a report on Wednesday. BMO Capital Markets increased their price objective on TransAlta from C$17.00 to C$22.00 in a research report on Monday, December 16th. Royal Bank of Canada boosted their target price on TransAlta from C$14.00 to C$16.00 in a research report on Wednesday, November 6th. Finally, TD Securities raised their price target on TransAlta from C$16.00 to C$18.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of C$18.33.

TransAlta Stock Performance

TA traded down C$0.03 on Thursday, hitting C$19.05. The company's stock had a trading volume of 935,104 shares, compared to its average volume of 2,488,115. TransAlta has a 12 month low of C$8.22 and a 12 month high of C$20.98. The firm has a market cap of C$5.68 billion, a P/E ratio of 10.03, a price-to-earnings-growth ratio of -0.07 and a beta of 0.93. 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 company's 50 day simple moving average is C$17.27 and its 200-day simple moving average is C$13.63.

Insider Activity

In other news, Senior Officer Jane Nyla Fedoretz sold 10,000 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of C$19.41, for a total value of C$194,100.00. Also, Director John Harry Kousinioris sold 35,179 shares of the firm's stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of C$20.73, for a total value of C$729,260.67. Insiders sold a total of 204,763 shares of company stock worth $3,478,670 in the last quarter. 0.21% of the stock is owned by company insiders.

TransAlta Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Sunday, December 1st were given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.26%. The ex-dividend date was Friday, November 29th. TransAlta's dividend payout ratio is currently 12.63%.

TransAlta Company Profile

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.