National Bank Financial Comments on TransAlta Co.’s Q1 2024 Earnings (NYSE:TAC)

TransAlta Co. (NYSE:TAC) (TSE:TA) – Equities researchers at National Bank Financial issued their Q1 2024 earnings per share estimates for TransAlta in a report released on Tuesday, April 23rd. National Bank Financial analyst P. Kenny forecasts that the utilities provider will post earnings per share of $0.12 for the quarter. The consensus estimate for TransAlta’s current full-year earnings is $0.50 per share.

TransAlta (NYSE:TAC) (TSE:TA) last announced its quarterly 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 business had revenue of $624.00 million for the quarter, compared to analysts’ expectations of $305.79 million. TransAlta had a return on equity of 48.42% and a net margin of 20.05%. The firm’s quarterly revenue was down 26.9% on a year-over-year basis. During the same period last year, the firm earned ($0.45) earnings 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 1.5 %

Shares of NYSE TAC opened at $6.62 on Thursday. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of 3.62 and a beta of 0.83. The company has a debt-to-equity ratio of 4.06, a current ratio of 0.91 and a quick ratio of 0.82. The business has a 50-day moving average of $6.57 and a two-hundred day moving average of $7.41. TransAlta has a 1 year low of $5.94 and a 1 year high of $10.40.

Institutional Trading of TransAlta

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings 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 valued at $87,242,000 after purchasing an additional 2,116,907 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of TransAlta by 76.4% in 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 last quarter. Rubric Capital Management LP lifted its holdings in shares of TransAlta by 28.6% in 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 last quarter. National Bank of Canada FI lifted its holdings in shares of TransAlta by 23.4% in 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 last quarter. Finally, Bank of Nova Scotia lifted its holdings in shares of TransAlta by 93.8% in 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 last quarter. 59.00% of the stock is owned by hedge funds and other institutional investors.

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.