TransAlta Co. (NYSE:TAC) (TSE:TA) – Stock analysts at National Bank Financial cut their FY2018 earnings per share estimates for shares of TransAlta in a research report issued to clients and investors on Wednesday. National Bank Financial analyst P. Kenny now expects that the utilities provider will post earnings of $0.08 per share for the year, down from their previous estimate of $0.09.

Several other research firms have also recently issued reports on TAC. BidaskClub cut shares of TransAlta from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Zacks Investment Research cut shares of TransAlta from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th.

TransAlta (TAC) traded down $0.15 during trading on Monday, reaching $6.00. 21,900 shares of the company’s stock traded hands, compared to its average volume of 34,980. The stock has a market cap of $1,770.58, a PE ratio of 153.75 and a beta of 0.76. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.92 and a current ratio of 1.07. TransAlta has a 12 month low of $5.00 and a 12 month high of $6.60.

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 1st will be given a $0.031 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.12 annualized dividend and a dividend yield of 2.07%. TransAlta’s payout ratio is presently 240.05%.

Institutional investors and hedge funds have recently made changes to their positions in the company. Citadel Advisors LLC purchased a new stake in shares of TransAlta in the 3rd quarter worth approximately $112,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of TransAlta by 21.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,818 shares of the utilities provider’s stock worth $146,000 after purchasing an additional 4,088 shares during the period. ARP Americas LLC purchased a new stake in shares of TransAlta in the 3rd quarter worth approximately $160,000. Bank of Nova Scotia Trust Co. lifted its position in shares of TransAlta by 6.0% in the 2nd quarter. Bank of Nova Scotia Trust Co. now owns 26,375 shares of the utilities provider’s stock worth $169,000 after purchasing an additional 1,502 shares during the period. Finally, Parametric Portfolio Associates LLC lifted its position in shares of TransAlta by 2.5% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 31,629 shares of the utilities provider’s stock worth $202,000 after purchasing an additional 775 shares during the period. 50.84% of the stock is owned by hedge funds and other institutional investors.

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TransAlta Company Profile

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.

Earnings History and Estimates for TransAlta (NYSE:TAC)

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