Research Analysts Issue Forecasts for TransAlta Q3 Earnings

TransAlta Co. (NYSE:TAC) (TSE:TA) – Equities research analysts at National Bank Financial issued their Q3 2024 earnings per share (EPS) estimates for TransAlta in a research report issued to clients and investors on Wednesday, October 23rd. National Bank Financial analyst P. Kenny forecasts that the utilities provider will post earnings per share of $0.14 for the quarter. The consensus estimate for TransAlta’s current full-year earnings is $0.75 per share.

TransAlta (NYSE:TAC) (TSE:TA) last posted its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.08. TransAlta had a return on equity of 47.71% and a net margin of 18.41%. The business had revenue of $425.37 million for the quarter. During the same quarter in the previous year, the firm posted $0.17 EPS.

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

TransAlta Price Performance

Shares of NYSE TAC opened at $10.16 on Friday. TransAlta has a 52 week low of $5.94 and a 52 week high of $10.73. The business’s 50 day moving average price is $9.65 and its 200 day moving average price is $8.00. The company has a quick ratio of 0.75, a current ratio of 0.84 and a debt-to-equity ratio of 3.43. The firm has a market cap of $3.03 billion, a P/E ratio of 6.73 and a beta of 0.92.

TransAlta Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TAC. PNC Financial Services Group Inc. acquired a new stake in shares of TransAlta during the 4th quarter worth approximately $33,000. Financial Management Professionals Inc. acquired a new position in shares of TransAlta in the third quarter worth about $42,000. Blue Trust Inc. boosted its stake in shares of TransAlta by 1,381.5% during the 2nd quarter. Blue Trust Inc. now owns 4,237 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 3,951 shares in the last quarter. Mather Group LLC. purchased a new stake in shares of TransAlta during the 2nd quarter worth about $64,000. Finally, Evergreen Capital Management LLC acquired a new stake in shares of TransAlta during the 2nd quarter valued at about $72,000. 59.00% of the stock is currently 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.