TransAlta Co. (NYSE:TAC - Free Report ) TSE: TA - Analysts at Atb Cap Markets decreased their Q3 2024 earnings per share (EPS) estimates for shares of TransAlta in a research report issued on Sunday, May 5th. Atb Cap Markets analyst N. Heywood now anticipates that the utilities provider will post earnings per share of $0.18 for the quarter, down from their prior estimate of $0.26. The consensus estimate for TransAlta's current full-year earnings is $0.51 per share. Atb Cap Markets also issued estimates for TransAlta's FY2024 earnings at $0.80 EPS and FY2026 earnings at $0.59 EPS.
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TransAlta (NYSE:TAC - Get Free Report ) TSE: TA last released its quarterly earnings results 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 net margin of 18.70% and a return on equity of 43.02%. The company had revenue of $624.00 million during the quarter, compared to the consensus estimate of $305.79 million. During the same quarter last year, the firm earned ($0.45) EPS. The business's revenue was down 26.9% on a year-over-year basis.
Separately, StockNews.com cut TransAlta from a "strong-buy" rating to a "buy" rating in a research report on Friday, January 12th.
View Our Latest Research Report on TransAlta
TransAlta Trading Up 3.0 % Shares of TAC traded up $0.21 during trading hours on Wednesday, reaching $7.32. 1,018,812 shares of the company traded hands, compared to its average volume of 744,505. TransAlta has a 12 month low of $5.94 and a 12 month high of $10.40. The company has a quick ratio of 0.82, a current ratio of 0.91 and a debt-to-equity ratio of 4.06. The company's fifty day moving average price is $6.54 and its two-hundred day moving average price is $7.31. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of 4.72 and a beta of 0.83.
Hedge Funds Weigh In On TransAlta Several large investors have recently made changes to their positions in TAC. NBC Securities Inc. raised 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 valued at $26,000 after buying an additional 2,500 shares during the last quarter. PNC Financial Services Group Inc. bought a new position in TransAlta in the 4th quarter worth about $33,000. Janney Montgomery Scott LLC purchased a new stake in TransAlta during the 1st quarter valued at about $66,000. Calton & Associates Inc. bought a new stake in TransAlta during the 4th quarter valued at about $93,000. Finally, 1832 Asset Management L.P. raised its holdings in TransAlta by 50.3% in the fourth quarter. 1832 Asset Management L.P. now owns 11,576 shares of the utilities provider's stock worth $96,000 after buying an additional 3,876 shares during the last quarter. 59.00% of the stock is currently owned by hedge funds and other institutional investors.
TransAlta Increases Dividend The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Saturday, June 1st will be paid a $0.0438 dividend. This represents a $0.18 annualized dividend and a dividend yield of 2.39%. This is a positive change from TransAlta's previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Friday, May 31st. TransAlta's dividend payout ratio (DPR) is presently 10.97%.
About TransAlta (
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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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