Atb Cap Markets Estimates TransAlta’s Q3 Earnings (NYSE:TAC)

TransAlta Co. (NYSE:TAC) (TSE:TA) – Investment analysts at Atb Cap Markets reduced their Q3 2024 earnings per share (EPS) estimates for shares of TransAlta in a report released on Tuesday, October 22nd. Atb Cap Markets analyst N. Heywood now forecasts that the utilities provider will post earnings of $0.12 per share for the quarter, down from their prior forecast 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.

TransAlta (NYSE:TAC) (TSE:TA) last announced its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 prior year, the business posted $0.17 earnings per share.

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

TransAlta Price Performance

Shares of TAC opened at $10.15 on Friday. The company has a 50 day moving average of $9.62 and a two-hundred day moving average of $7.98. The company has a market cap of $3.03 billion, a price-to-earnings ratio of 6.72 and a beta of 0.92. The company has a quick ratio of 0.75, a current ratio of 0.84 and a debt-to-equity ratio of 3.43. TransAlta has a twelve month low of $5.94 and a twelve month high of $10.73.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of TransAlta by 25.3% during the 4th quarter. Vanguard Group Inc. now owns 10,498,451 shares of the utilities provider’s stock valued at $87,242,000 after acquiring an additional 2,116,907 shares during the period. Jupiter Asset Management Ltd. purchased a new stake in TransAlta in the 1st quarter worth $3,779,000. Clayton Partners LLC lifted its holdings in TransAlta by 2,293.5% during the second quarter. Clayton Partners LLC now owns 458,155 shares of the utilities provider’s stock valued at $3,244,000 after purchasing an additional 439,013 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of TransAlta during the 1st quarter worth about $2,246,000. Finally, National Bank of Canada FI boosted its holdings in TransAlta by 9.0% in the 2nd quarter. National Bank of Canada FI now owns 3,618,296 shares of the utilities provider’s stock worth $25,267,000 after buying an additional 299,594 shares during the last quarter. 59.00% of the stock is owned by institutional investors and hedge funds.

TransAlta Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Sunday, September 1st were given a dividend of $0.044 per share. The ex-dividend date was Friday, August 30th. 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 1.73%. TransAlta’s payout ratio is currently 11.26%.

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.