FY2024 EPS Estimates for TransAlta Co. Lifted by Analyst (NYSE:TAC)

TransAlta Co. (NYSE:TAC) (TSE:TA) – Atb Cap Markets boosted their FY2024 earnings per share (EPS) estimates for TransAlta in a research note issued on Thursday, August 1st. Atb Cap Markets analyst N. Heywood now forecasts that the utilities provider will post earnings of $0.86 per share for the year, up from their prior estimate of $0.84. The consensus estimate for TransAlta’s current full-year earnings is $0.75 per share. Atb Cap Markets also issued estimates for TransAlta’s Q1 2025 earnings at $0.20 EPS, Q3 2025 earnings at $0.24 EPS, Q4 2025 earnings at $0.05 EPS, FY2025 earnings at $0.49 EPS and FY2026 earnings at $0.45 EPS.

TransAlta (NYSE:TAC) (TSE:TA) last announced its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.08. TransAlta had a return on equity of 45.67% and a net margin of 18.41%. The business had revenue of $425.37 million during the quarter. During the same period in the prior year, the firm posted $0.17 earnings per share.

TransAlta Stock Performance

Shares of TransAlta stock opened at $8.21 on Monday. The business has a 50-day simple moving average of $7.19 and a 200-day simple moving average of $6.94. The company has a debt-to-equity ratio of 2.95, a quick ratio of 0.62 and a current ratio of 0.69. The company has a market cap of $2.48 billion, a PE ratio of 5.30 and a beta of 0.88. TransAlta has a one year low of $5.94 and a one year high of $10.40.

TransAlta Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Sunday, September 1st will be issued a $0.044 dividend. This represents a $0.18 dividend on an annualized basis and a yield of 2.14%. This is an increase from TransAlta’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Friday, August 30th. TransAlta’s dividend payout ratio is 10.97%.

Hedge Funds Weigh In On TransAlta

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. National Bank of Canada FI boosted its holdings in shares of TransAlta by 9.0% in the second quarter. National Bank of Canada FI now owns 3,618,296 shares of the utilities provider’s stock valued at $25,267,000 after acquiring an additional 299,594 shares during the period. Intact Investment Management Inc. boosted its holdings in shares of TransAlta by 5.6% in the second quarter. Intact Investment Management Inc. now owns 1,912,250 shares of the utilities provider’s stock valued at $13,557,000 after acquiring an additional 101,200 shares during the period. Sage Rhino Capital LLC acquired a new stake in shares of TransAlta in the second quarter valued at approximately $79,000. Signaturefd LLC boosted its holdings in shares of TransAlta by 173.4% in the second quarter. Signaturefd LLC now owns 21,199 shares of the utilities provider’s stock valued at $150,000 after acquiring an additional 13,444 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of TransAlta in the second quarter valued at approximately $172,000. 59.00% of the stock is owned by institutional investors and hedge funds.

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.