FY2017 EPS Estimates for TransAlta Corporation (TAC) Lowered by National Bank Financial
TransAlta Corporation (NYSE:TAC) (TSE:TA) – Equities researchers at National Bank Financial dropped their FY2017 earnings per share (EPS) estimates for TransAlta Corporation in a research report issued to clients and investors on Wednesday. National Bank Financial analyst P. Kenny now anticipates that the utilities provider will post earnings of ($0.17) per share for the year, down from their prior forecast of ($0.09). National Bank Financial also issued estimates for TransAlta Corporation’s FY2018 earnings at $0.09 EPS.
TAC has been the topic of several other reports. BidaskClub cut shares of TransAlta Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Zacks Investment Research cut shares of TransAlta Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. Six equities research analysts have rated the stock with a hold rating, The stock presently has an average rating of “Hold” and a consensus price target of $7.00.
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Shares of TransAlta Corporation (NYSE:TAC) opened at $5.86 on Monday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.66 and a current ratio of 1.07. TransAlta Corporation has a 52-week low of $3.75 and a 52-week high of $6.60. The company has a market cap of $1,684.21, a PE ratio of 146.25 and a beta of 0.76.
The company also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 1st will be issued a $0.031 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.12%. TransAlta Corporation’s payout ratio is 260.05%.
Several hedge funds have recently modified their holdings of the company. CIBC Asset Management Inc raised its holdings in shares of TransAlta Corporation by 37.5% in the 2nd quarter. CIBC Asset Management Inc now owns 17,645,218 shares of the utilities provider’s stock valued at $112,669,000 after purchasing an additional 4,809,107 shares during the period. Vanguard Group Inc. raised its holdings in shares of TransAlta Corporation by 5.4% in the 2nd quarter. Vanguard Group Inc. now owns 5,855,411 shares of the utilities provider’s stock valued at $37,475,000 after purchasing an additional 298,315 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of TransAlta Corporation by 2,971.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 3,269,002 shares of the utilities provider’s stock valued at $20,922,000 after purchasing an additional 3,162,567 shares during the period. Canada Pension Plan Investment Board raised its holdings in shares of TransAlta Corporation by 7.3% in the 3rd quarter. Canada Pension Plan Investment Board now owns 3,038,936 shares of the utilities provider’s stock valued at $17,738,000 after purchasing an additional 207,797 shares during the period. Finally, Sentry Investments Corp. bought a new stake in shares of TransAlta Corporation in the 2nd quarter valued at about $8,986,000. 51.09% of the stock is currently owned by institutional investors.
About TransAlta Corporation
TransAlta Corporation (TransAlta) is a non-regulated electricity generation and energy marketing company with an aggregate net ownership interest of approximately 8,720 megawatts of generating capacity. The Company is engaged in the production and sale of electric energy. It focuses on generating and marketing electricity in Canada, the United States and Western Australia through its diversified portfolio of facilities fuelled by coal, natural gas, diesel, hydro, wind and solar.
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