FY2023 EPS Estimates for TransAlta Co. (NYSE:TAC) Cut by Analyst

TransAlta Co. (NYSE:TACFree Report) (TSE:TA) – Atb Cap Markets dropped their FY2023 EPS estimates for shares of TransAlta in a report released on Sunday, February 4th. Atb Cap Markets analyst N. Heywood now forecasts that the utilities provider will earn $2.10 per share for the year, down from their previous forecast of $2.20. The consensus estimate for TransAlta’s current full-year earnings is $2.05 per share. Atb Cap Markets also issued estimates for TransAlta’s Q4 2023 earnings at $0.13 EPS.

TAC has been the subject of a number of other reports. TheStreet raised TransAlta from a “d+” rating to a “c” rating in a research note on Tuesday, November 7th. StockNews.com cut TransAlta from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 12th.

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TransAlta Stock Up 1.1 %

TAC stock opened at $6.95 on Wednesday. TransAlta has a 52 week low of $6.82 and a 52 week high of $10.40. The stock has a market capitalization of $2.14 billion, a P/E ratio of 4.40 and a beta of 0.88. The firm has a 50-day simple moving average of $7.85 and a 200-day simple moving average of $8.57. The company has a quick ratio of 1.43, a current ratio of 1.54 and a debt-to-equity ratio of 1.76.

TransAlta (NYSE:TACGet Free Report) (TSE:TA) last issued its quarterly earnings results on Tuesday, November 7th. The utilities provider reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.57. TransAlta had a net margin of 16.56% and a return on equity of 39.38%. The company had revenue of $758.14 million for the quarter.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Pacifica Partners Inc. boosted its stake in TransAlta by 766.3% in the third quarter. Pacifica Partners Inc. now owns 3,465 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 3,065 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of TransAlta in the third quarter valued at approximately $33,000. Tower Research Capital LLC TRC raised its holdings in TransAlta by 234.6% during the third quarter. Tower Research Capital LLC TRC now owns 4,367 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 3,062 shares in the last quarter. 1832 Asset Management L.P. lifted its position in TransAlta by 153.2% in the first quarter. 1832 Asset Management L.P. now owns 5,497 shares of the utilities provider’s stock valued at $56,000 after purchasing an additional 3,326 shares during the period. Finally, Bank of New York Mellon Corp acquired a new stake in TransAlta in the third quarter valued at $88,000. 64.93% of the stock is owned by institutional investors and hedge funds.

TransAlta Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 1st will be paid a dividend of $0.0437 per share. The ex-dividend date of this dividend is Thursday, February 29th. This is a positive change from TransAlta’s previous quarterly dividend of $0.04. This represents a $0.17 dividend on an annualized basis and a yield of 2.52%. TransAlta’s dividend payout ratio is 10.13%.

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 has a net ownership interest of approximately 922 megawatts (MW) of owned hydro electrical-generating capacity located in Alberta, British Columbia, and Ontario.

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