TransAlta Co. (NYSE:TAC – Free Report) (TSE:TA) – Equities researchers at National Bank Financial reduced their FY2023 earnings estimates for TransAlta in a research report issued on Wednesday, July 12th. National Bank Financial analyst P. Kenny now expects that the utilities provider will post earnings of $1.22 per share for the year, down from their prior estimate of $1.27. The consensus estimate for TransAlta’s current full-year earnings is $0.98 per share. National Bank Financial also issued estimates for TransAlta’s FY2024 earnings at $0.73 EPS.
TransAlta (NYSE:TAC – Get Free Report) (TSE:TA) last released its earnings results on Friday, May 5th. The utilities provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.52. The business had revenue of $805.39 million during the quarter. TransAlta had a net margin of 3.90% and a return on equity of 9.56%.
TransAlta Stock Down 1.8 %
TAC stock opened at $9.90 on Monday. The stock has a market capitalization of $2.61 billion, a P/E ratio of 34.14 and a beta of 1.03. The firm has a 50-day simple moving average of $9.63 and a 200-day simple moving average of $9.13. The company has a quick ratio of 1.43, a current ratio of 1.51 and a debt-to-equity ratio of 2.67. TransAlta has a 52 week low of $7.55 and a 52 week high of $11.85.
Hedge Funds Weigh In On TransAlta
A number of institutional investors and hedge funds have recently bought and sold shares of TAC. O Shaughnessy Asset Management LLC boosted its holdings in TransAlta by 0.5% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 326,490 shares of the utilities provider’s stock valued at $2,920,000 after purchasing an additional 1,463 shares during the last quarter. Addenda Capital Inc. acquired a new position in TransAlta in the 4th quarter valued at about $30,000. DORCHESTER WEALTH MANAGEMENT Co boosted its holdings in TransAlta by 2.8% in the 4th quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 111,775 shares of the utilities provider’s stock valued at $999,000 after purchasing an additional 3,050 shares during the last quarter. Waratah Capital Advisors Ltd. boosted its holdings in TransAlta by 1,037.3% in the 4th quarter. Waratah Capital Advisors Ltd. now owns 2,750,447 shares of the utilities provider’s stock valued at $24,599,000 after purchasing an additional 2,508,615 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in TransAlta by 12.2% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,245,376 shares of the utilities provider’s stock valued at $37,971,000 after purchasing an additional 460,019 shares during the last quarter. 61.11% of the stock is currently owned by institutional investors and hedge funds.
TransAlta Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Saturday, July 1st. Investors of record on Thursday, June 1st were given a dividend of $0.041 per share. The ex-dividend date of this dividend was Wednesday, May 31st. This represents a $0.16 dividend on an annualized basis and a yield of 1.66%. TransAlta’s payout ratio is presently 55.17%.
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 has a net ownership interest of approximately 922 megawatts (MW) of owned hydro electrical-generating capacity located in Alberta, British Columbia, and Ontario.
Read More
- Five stocks we like better than TransAlta
- MarketBeat Week in Review – 7/10 – 7/14
- Wells Fargo’s Earnings, Why Markets Are Loving The Stock
- Citigroup Leads Banking Earnings, What’s Next?
- BlackRock Kicks Off Financials Earnings Season, Gauge To Markets
- JPMorgan Chase Is In Reversal But Don’t Chase It Higher
Receive News & Ratings for TransAlta Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TransAlta and related companies with MarketBeat.com's FREE daily email newsletter.
