National Bank Financial Comments on TransAlta Co.’s Q1 2024 Earnings (NYSE:TAC)

TransAlta Co. (NYSE:TAC) (TSE:TA) – Analysts at National Bank Financial issued their Q1 2024 earnings per share (EPS) estimates for TransAlta in a research note issued on Tuesday, April 23rd. National Bank Financial analyst P. Kenny forecasts that the utilities provider will earn $0.12 per share for the quarter. The consensus estimate for TransAlta’s current full-year earnings is $0.50 per share.

TransAlta (NYSE:TAC) (TSE:TA) last posted its quarterly earnings data on Friday, February 23rd. The utilities provider reported ($0.20) earnings per share 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 during the quarter, compared to analysts’ expectations of $305.79 million. During the same period in the prior year, the firm posted ($0.45) EPS. The firm’s revenue for the quarter was down 26.9% on a year-over-year basis.

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

TransAlta Trading Up 3.2 %

NYSE TAC opened at $6.83 on Thursday. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of 3.73 and a beta of 0.83. The business’s fifty day moving average is $6.57 and its 200-day moving average is $7.40. The company has a debt-to-equity ratio of 4.06, a current ratio of 0.91 and a quick ratio of 0.82. TransAlta has a one year low of $5.94 and a one year high of $10.40.

Institutional Investors Weigh In On TransAlta

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Quantbot Technologies LP raised its position in shares of TransAlta by 25.7% during the 3rd quarter. Quantbot Technologies LP now owns 11,712 shares of the utilities provider’s stock valued at $102,000 after buying an additional 2,392 shares in the last quarter. NBC Securities Inc. lifted its stake in TransAlta by 156.3% during the first 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. Clayton Partners LLC boosted its holdings in shares of TransAlta by 15.7% in the 4th quarter. Clayton Partners LLC now owns 18,546 shares of the utilities provider’s stock worth $154,000 after purchasing an additional 2,517 shares in the last quarter. Tacita Capital Inc increased its position in shares of TransAlta by 2.3% during the 3rd quarter. Tacita Capital Inc now owns 163,155 shares of the utilities provider’s stock valued at $1,425,000 after purchasing an additional 3,675 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its holdings in shares of TransAlta by 50.3% during the 4th 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. Hedge funds and other institutional investors own 59.00% of the company’s stock.

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.