TransAlta Co. to Post Q1 2024 Earnings of $0.14 Per Share, Atb Cap Markets Forecasts (NYSE:TAC)

TransAlta Co. (NYSE:TAC - Free Report) TSE: TA - Equities researchers at Atb Cap Markets increased their Q1 2024 earnings per share estimates for TransAlta in a research report issued on Tuesday, April 23rd. Atb Cap Markets analyst N. Heywood now anticipates that the utilities provider will post earnings of $0.14 per share for the quarter, up from their prior estimate of $0.10. The consensus estimate for TransAlta's current full-year earnings is $0.50 per share. Atb Cap Markets also issued estimates for TransAlta's FY2024 earnings at $0.55 EPS.

TransAlta (NYSE:TAC - Get Free Report) TSE: TA last released its quarterly earnings data on Friday, February 23rd. The utilities provider reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.30). The firm had revenue of $624.00 million for the quarter, compared to the consensus estimate of $305.79 million. TransAlta had a net margin of 20.05% and a return on equity of 48.42%. The company's revenue was down 26.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.45) EPS.

Separately, StockNews.com cut TransAlta from a "strong-buy" rating to a "buy" rating in a research report on Friday, January 12th.

TransAlta Stock Performance

TAC stock traded up $0.21 during midday trading on Thursday, hitting $6.83. The company's stock had a trading volume of 1,243,226 shares, compared to its average volume of 721,415. The stock's 50-day moving average price is $6.57 and its 200 day moving average price is $7.40. The company has a quick ratio of 0.82, a current ratio of 0.91 and a debt-to-equity ratio of 4.06. TransAlta has a 1 year low of $5.94 and a 1 year high of $10.40. The stock has a market cap of $2.10 billion, a price-to-earnings ratio of 3.73 and a beta of 0.83.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TAC. Vanguard Group Inc. raised its stake 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 purchasing an additional 2,116,907 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of TransAlta by 76.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,387,290 shares of the utilities provider's stock valued at $36,458,000 after purchasing an additional 1,899,671 shares during the period. Rubric Capital Management LP raised its stake in shares of TransAlta by 28.6% during the 3rd quarter. Rubric Capital Management LP now owns 4,404,844 shares of the utilities provider's stock valued at $38,322,000 after purchasing an additional 978,354 shares during the period. National Bank of Canada FI raised its stake in shares of TransAlta by 23.4% during the 4th quarter. National Bank of Canada FI now owns 4,199,245 shares of the utilities provider's stock valued at $34,612,000 after purchasing an additional 796,503 shares during the period. Finally, Bank of Nova Scotia raised its stake in shares of TransAlta by 93.8% during the 4th quarter. Bank of Nova Scotia now owns 1,525,761 shares of the utilities provider's stock valued at $12,688,000 after purchasing an additional 738,338 shares during the period. Hedge funds and other institutional investors own 59.00% of the company's stock.

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.