Q1 2024 Earnings Estimate for TransAlta Co. (NYSE:TAC) Issued By National Bank Financial

TransAlta Co. (NYSE:TAC) (TSE:TA) – National Bank Financial issued their Q1 2024 EPS estimates for shares of TransAlta in a report released on Tuesday, April 23rd. National Bank Financial analyst P. Kenny expects that the utilities provider will post earnings of $0.12 per share for the quarter. The consensus estimate for TransAlta’s current full-year earnings is $0.51 per share.

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

TransAlta Trading Down 2.9 %

TransAlta stock opened at $6.63 on Thursday. The firm has a 50-day moving average price of $6.56 and a two-hundred day moving average price of $7.39. The firm has a market capitalization of $2.03 billion, a price-to-earnings ratio of 3.62 and a beta of 0.83. TransAlta has a 52-week low of $5.94 and a 52-week 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.

TransAlta (NYSE:TAC) (TSE:TA) last posted its earnings results on Friday, February 23rd. The utilities provider reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.30). The firm had revenue of $624.00 million for the quarter, compared to analyst estimates of $305.79 million. TransAlta had a net margin of 20.05% and a return on equity of 48.42%. The company’s revenue for the quarter was down 26.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.45) earnings per share.

Institutional Trading of TransAlta

A number of institutional investors have recently made changes to their positions in TAC. Vanguard Group Inc. lifted its stake 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 worth $87,242,000 after acquiring an additional 2,116,907 shares during the period. Goldman Sachs Group Inc. lifted its stake in TransAlta by 76.4% during the fourth 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 last quarter. Rubric Capital Management LP lifted its stake in TransAlta by 28.6% during the third 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 last quarter. National Bank of Canada FI lifted its stake in TransAlta by 23.4% during the fourth 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 last quarter. Finally, Bank of Nova Scotia lifted its stake in TransAlta by 93.8% during the fourth 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 last quarter. 59.00% of the stock is owned by institutional investors and hedge funds.

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.