Atb Cap Markets Analysts Lift Earnings Estimates for TransAlta Co. (NYSE:TAC)

TransAlta Co. (NYSE:TAC) (TSE:TA) – Atb Cap Markets upped their Q1 2024 earnings per share (EPS) estimates for shares of TransAlta in a research report issued to clients and investors on Tuesday, April 23rd. Atb Cap Markets analyst N. Heywood now anticipates that the utilities provider will post earnings of $0.14 per share for the quarter, up from their previous forecast of $0.10. The consensus estimate for TransAlta’s current full-year earnings is $0.50 per share. Atb Cap Markets also issued estimates for TransAlta’s FY2024 earnings at $0.55 EPS.

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

TransAlta Stock Up 3.2 %

Shares of TransAlta stock opened at $6.83 on Thursday. The company has a fifty day moving average price of $6.57 and a 200 day moving average price of $7.40. The company has a current ratio of 0.91, a quick ratio of 0.82 and a debt-to-equity ratio of 4.06. TransAlta has a twelve month low of $5.94 and a twelve month high of $10.40. The stock has a market cap of $2.10 billion, a price-to-earnings ratio of 3.73 and a beta of 0.83.

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

Hedge Funds Weigh In On TransAlta

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. NBC Securities Inc. increased its position 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 worth $26,000 after purchasing an additional 2,500 shares during the last quarter. PNC Financial Services Group Inc. acquired a new position in TransAlta in the fourth quarter worth about $33,000. Calton & Associates Inc. bought a new stake in TransAlta in the fourth quarter valued at about $93,000. 1832 Asset Management L.P. raised its stake 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 valued at $96,000 after buying an additional 3,876 shares in the last quarter. Finally, Quantbot Technologies LP lifted its holdings in TransAlta by 25.7% during the 3rd quarter. Quantbot Technologies LP now owns 11,712 shares of the utilities provider’s stock worth $102,000 after buying an additional 2,392 shares during the last quarter. 59.00% of the stock is owned by hedge funds and other institutional investors.

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.