TransAlta Co. (NYSE:TAC – Free Report) (TSE:TA) – Research analysts at Atb Cap Markets lowered their Q3 2024 EPS estimates for TransAlta in a report released on Tuesday, October 22nd. Atb Cap Markets analyst N. Heywood now expects that the utilities provider will post earnings per share of $0.12 for the quarter, down from their previous 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 – Get Free Report) (TSE:TA) last released its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.08. The business had revenue of $425.37 million during the quarter. TransAlta had a net margin of 18.41% and a return on equity of 47.71%. During the same period last year, the firm posted $0.17 earnings per share.
Read Our Latest Stock Report on TAC
TransAlta Stock Up 0.1 %
Shares of NYSE TAC opened at $10.16 on Friday. The business has a 50-day moving average of $9.65 and a two-hundred day moving average of $8.00. The company has a market capitalization of $3.03 billion, a price-to-earnings ratio of 6.73 and a beta of 0.92. TransAlta has a 1 year low of $5.94 and a 1 year high of $10.73. The company has a debt-to-equity ratio of 3.43, a current ratio of 0.84 and a quick ratio of 0.75.
TransAlta Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Sunday, December 1st will be given a $0.044 dividend. This represents a $0.18 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date is Friday, November 29th. TransAlta’s dividend payout ratio (DPR) is 11.26%.
Hedge Funds Weigh In On TransAlta
Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of TransAlta by 25.3% in the 4th quarter. Vanguard Group Inc. now owns 10,498,451 shares of the utilities provider’s stock valued at $87,242,000 after purchasing an additional 2,116,907 shares during the period. Jupiter Asset Management Ltd. purchased a new stake in TransAlta in the first quarter valued at approximately $3,779,000. Clayton Partners LLC boosted its holdings in shares of TransAlta by 2,293.5% in the second quarter. Clayton Partners LLC now owns 458,155 shares of the utilities provider’s stock valued at $3,244,000 after acquiring an additional 439,013 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of TransAlta during the first quarter worth approximately $2,246,000. Finally, National Bank of Canada FI grew its position in shares of TransAlta by 9.0% during the second quarter. National Bank of Canada FI now owns 3,618,296 shares of the utilities provider’s stock worth $25,267,000 after acquiring an additional 299,594 shares during 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.
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