National Bank Financial Comments on TransAlta Co.’s Q1 2024 Earnings (NYSE:TAC)

TransAlta Co. (NYSE:TAC) (TSE:TA) – Investment analysts at National Bank Financial issued their Q1 2024 earnings per share (EPS) estimates for shares of TransAlta in a research report issued on Tuesday, April 23rd. National Bank Financial analyst P. Kenny anticipates that the utilities provider will earn $0.12 per share for the quarter. The consensus estimate for TransAlta’s current full-year earnings is $0.50 per share.

TransAlta (NYSE:TAC) (TSE:TA) last announced its quarterly earnings data on Friday, February 23rd. The utilities provider reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.30). The firm had revenue of $624.00 million during the quarter, compared to analyst estimates of $305.79 million. TransAlta had a net margin of 20.05% and a return on equity of 48.42%. The firm’s revenue for the quarter was down 26.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.45) earnings per share.

Separately, StockNews.com lowered TransAlta from a “strong-buy” rating to a “buy” rating in a report on Friday, January 12th.

TransAlta Stock Up 1.5 %

Shares of TAC stock opened at $6.62 on Thursday. The stock’s 50-day simple moving average is $6.57 and its 200-day simple moving average is $7.41. The company has a debt-to-equity ratio of 4.06, a quick ratio of 0.82 and a current ratio of 0.91. The firm has a market capitalization of $2.03 billion, a PE ratio of 3.62 and a beta of 0.83. TransAlta has a fifty-two week low of $5.94 and a fifty-two week high of $10.40.

Institutional Trading of TransAlta

Hedge funds and other institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. acquired a new stake in TransAlta during the fourth quarter worth about $33,000. NBC Securities Inc. grew its holdings in TransAlta by 156.3% during the first quarter. NBC Securities Inc. now owns 4,100 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 2,500 shares during the period. Calton & Associates Inc. acquired a new stake in TransAlta during the fourth quarter worth about $93,000. 1832 Asset Management L.P. grew its holdings in TransAlta by 50.3% during the fourth quarter. 1832 Asset Management L.P. now owns 11,576 shares of the utilities provider’s stock worth $96,000 after acquiring an additional 3,876 shares during the period. Finally, Quantbot Technologies LP grew its holdings in TransAlta by 25.7% during the third quarter. Quantbot Technologies LP now owns 11,712 shares of the utilities provider’s stock worth $102,000 after acquiring an additional 2,392 shares during the period. 59.00% of the stock is owned by institutional investors and hedge funds.

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.