Atb Cap Markets Comments on TransAlta Co.’s Q3 2024 Earnings (NYSE:TAC)

TransAlta Co. (NYSE:TAC) (TSE:TA) – Atb Cap Markets lowered their Q3 2024 EPS estimates for shares of TransAlta in a note issued to investors on Sunday, May 5th. Atb Cap Markets analyst N. Heywood now forecasts that the utilities provider will post earnings per share of $0.18 for the quarter, down from their previous forecast of $0.26. The consensus estimate for TransAlta’s current full-year earnings is $0.51 per share. Atb Cap Markets also issued estimates for TransAlta’s FY2024 earnings at $0.80 EPS and FY2026 earnings at $0.59 EPS.

TransAlta (NYSE:TAC) (TSE:TA) last issued its quarterly earnings data on Friday, February 23rd. The utilities provider reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.30). The business had revenue of $624.00 million during the quarter, compared to the consensus estimate of $305.79 million. TransAlta had a return on equity of 43.02% and a net margin of 18.70%. The business’s revenue for the quarter was down 26.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.45) EPS.

Separately, StockNews.com downgraded shares of TransAlta from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 12th.

TransAlta Stock Down 1.4 %

Shares of NYSE TAC opened at $7.22 on Wednesday. The company’s 50 day moving average price is $6.55 and its 200-day moving average price is $7.31. The company has a debt-to-equity ratio of 4.06, a quick ratio of 0.82 and a current ratio of 0.91. TransAlta has a 52-week low of $5.94 and a 52-week high of $10.40. The company has a market capitalization of $2.22 billion, a P/E ratio of 4.66 and a beta of 0.83.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Quantbot Technologies LP grew its holdings in TransAlta by 26.1% in the first quarter. Quantbot Technologies LP now owns 38,912 shares of the utilities provider’s stock worth $250,000 after purchasing an additional 8,058 shares during the period. Janney Montgomery Scott LLC acquired a new position in shares of TransAlta during the first quarter valued at about $66,000. DORCHESTER WEALTH MANAGEMENT Co boosted its position in shares of TransAlta by 2.3% during the 1st quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 148,300 shares of the utilities provider’s stock worth $951,000 after purchasing an additional 3,375 shares in the last quarter. NBC Securities Inc. grew its stake in shares of TransAlta by 156.3% in the 1st quarter. NBC Securities Inc. now owns 4,100 shares of the utilities provider’s stock valued at $26,000 after buying an additional 2,500 shares during the period. Finally, PNC Financial Services Group Inc. acquired a new stake in shares of TransAlta in the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 59.00% of the company’s stock.

TransAlta Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Saturday, June 1st will be issued a $0.0438 dividend. This is an increase from TransAlta’s previous quarterly dividend of $0.04. This represents a $0.18 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date is Friday, May 31st. TransAlta’s payout ratio is presently 10.97%.

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.