Q3 Earnings Forecast for TransAlta Issued By Atb Cap Markets

TransAlta Co. (NYSE:TAC) (TSE:TA) – Equities research analysts at Atb Cap Markets reduced their Q3 2024 EPS estimates for shares of TransAlta in a research note issued to investors on Tuesday, October 22nd. Atb Cap Markets analyst N. Heywood now expects that the utilities provider will post earnings of $0.12 per share for the quarter, down from their previous estimate of $0.21. The consensus estimate for TransAlta’s current full-year earnings is $0.75 per share. Atb Cap Markets also issued estimates for TransAlta’s FY2024 earnings at $0.76 EPS.

Separately, StockNews.com cut TransAlta from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, September 25th.

TransAlta Price Performance

Shares of NYSE:TAC opened at $10.16 on Friday. The firm has a market capitalization of $3.03 billion, a PE ratio of 6.73 and a beta of 0.92. The company has a current ratio of 0.84, a quick ratio of 0.75 and a debt-to-equity ratio of 3.43. TransAlta has a 1-year low of $5.94 and a 1-year high of $10.73. The business’s 50 day moving average is $9.65 and its 200-day moving average is $8.02.

TransAlta (NYSE:TAC) (TSE:TA) last released its earnings results on Thursday, August 1st. The utilities provider reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.08. The business had revenue of $425.37 million for the quarter. TransAlta had a return on equity of 47.71% and a net margin of 18.41%. During the same period last year, the business earned $0.17 earnings per share.

TransAlta Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Sunday, December 1st will be paid a $0.044 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.18 dividend on an annualized basis and a yield of 1.73%. TransAlta’s payout ratio is currently 11.26%.

Institutional Investors Weigh In On TransAlta

Large investors have recently modified their holdings of the stock. DORCHESTER WEALTH MANAGEMENT Co lifted its holdings in TransAlta by 2.3% during the 1st quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 148,300 shares of the utilities provider’s stock valued at $951,000 after purchasing an additional 3,375 shares during the last quarter. Creative Planning grew its stake in TransAlta by 6.9% during the third quarter. Creative Planning now owns 53,803 shares of the utilities provider’s stock worth $557,000 after buying an additional 3,492 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of TransAlta by 1,381.5% during the second quarter. Blue Trust Inc. now owns 4,237 shares of the utilities provider’s stock worth $30,000 after buying an additional 3,951 shares in the last quarter. PNC Financial Services Group Inc. bought a new position in shares of TransAlta in the fourth quarter valued at approximately $33,000. Finally, Financial Management Professionals Inc. acquired a new position in shares of TransAlta in the 3rd quarter worth approximately $42,000. 59.00% of the stock is currently owned by institutional investors.

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.