TransAlta Co. Expected to Post Q1 2024 Earnings of $0.12 Per Share (NYSE:TAC)

TransAlta Co. (NYSE:TAC) (TSE:TA) – Analysts at National Bank Financial issued their Q1 2024 EPS estimates for shares of TransAlta in a research report issued 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 $0.50 per share.

Separately, StockNews.com downgraded TransAlta from a “strong-buy” rating to a “buy” rating in a report on Friday, January 12th.

TransAlta Stock Up 3.2 %

TAC opened at $6.83 on Thursday. The business has a 50 day moving average price of $6.57 and a two-hundred day moving average price of $7.40. TransAlta has a 52 week low of $5.94 and a 52 week high of $10.40. The company has a market cap of $2.10 billion, a PE ratio of 3.73 and a beta of 0.83. 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 quarterly earnings data on Friday, February 23rd. The utilities provider reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.30). TransAlta had a net margin of 20.05% and a return on equity of 48.42%. The business had revenue of $624.00 million during the quarter, compared to analyst estimates of $305.79 million. During the same quarter in the prior year, the firm posted ($0.45) earnings per share. The company’s revenue for the quarter was down 26.9% compared to the same quarter last year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. NBC Securities Inc. lifted its holdings in TransAlta by 156.3% in the first quarter. NBC Securities Inc. now owns 4,100 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 2,500 shares during the period. PNC Financial Services Group Inc. acquired a new stake in shares of TransAlta in the fourth quarter valued at about $33,000. Calton & Associates Inc. purchased a new stake in TransAlta during the fourth quarter worth about $93,000. 1832 Asset Management L.P. grew its position in TransAlta by 50.3% during 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 period. Finally, Quantbot Technologies LP increased its holdings in TransAlta by 25.7% in the third quarter. Quantbot Technologies LP now owns 11,712 shares of the utilities provider’s stock valued at $102,000 after buying an additional 2,392 shares in the last quarter. 59.00% of the stock is owned by hedge funds and other institutional investors.

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.