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TransAlta Corporation - TAC STOCK NEWS

Welcome to our dedicated page for TransAlta Corporation news (Ticker: TAC), a resource for investors and traders seeking the latest updates and insights on TransAlta Corporation stock.

TransAlta Corporation (NYSE: TAC, TSX: TA) is a leading independent power producer headquartered in Alberta, Canada. With over 112 years of experience, TransAlta operates a diverse portfolio of power generation assets across Canada, the United States, and Australia. The company's assets include wind, hydro, coal, and natural gas facilities, which collectively provide reliable and sustainable power to millions of customers.

Core Business and Operations

TransAlta's core business revolves around the generation and sale of electricity. The company has six reportable segments: hydro, wind & solar, energy marketing, gas, energy transition, and the corporate segment. The majority of TransAlta's revenue is generated from its gas segment, which continues to be a significant contributor to its financial performance.

Recent Achievements and Projects

TransAlta has been proactive in expanding its operations and enhancing its existing infrastructure. Some of its recent projects include a new pipeline development in Australia and new transmission projects in Alberta. The company has also achieved a 66% reduction in GHG emissions since 2015 and has received an upgraded MSCI ESG rating of AA, underscoring its commitment to sustainability.

Employee Growth and Opportunities

With over 2000 employees in three countries, TransAlta offers numerous opportunities for professional growth. The company is committed to fostering a positive work environment, as evidenced by the high satisfaction rates among its employees. Notably, 92% of new graduates move on to permanent positions, and 98% of new hires would recommend TransAlta to others.

Financial Condition and Shareholder Value

TransAlta maintains a robust financial position, as highlighted by its strong free cash flow. To enhance shareholder returns, the company has implemented a normal course issuer bid (NCIB) and an automatic share purchase plan (ASPP). These initiatives reflect TransAlta's strategic capital allocation and its commitment to long-term shareholder value.

Community and Sustainability

TransAlta is deeply integrated into the communities where it operates. The company aligns its goals with the UN Sustainable Development Goals and the Future-Fit Business Benchmark. Its reporting on climate change management is guided by international standards, including the IFRS S2 Climate-related Disclosures Standard and the Task Force on Climate-related Financial Disclosures (TCFD) recommendations.

For more information about TransAlta, visit their official website at transalta.com.

News

TransAlta Corporation Enters into Automatic Share Purchase Plan

Rhea-AI Summary
TransAlta (TAC) announces entering into an automatic share purchase plan to repurchase common shares under its normal course issuer bid. The company has purchased over 4 million common shares since May 2023, aiming to enhance shareholder returns through capital allocation strategies.
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TransAlta Reports Full Year and Fourth Quarter 2023 Results and Announces Enhanced Share Repurchase Program

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TransAlta Corporation reported strong financial results for the fourth quarter and year ended Dec. 31, 2023, with increased adjusted EBITDA, free cash flow, and cash flow from operating activities. The company achieved record earnings and announced an enhanced common share repurchase program for 2024. Key business highlights include achieving strong safety performance, entering into transfer agreements, and completing various energy projects.
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Media Advisory: TransAlta Fourth Quarter and Full Year 2023 Results and Conference Call

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TransAlta Corporation (TAC) will release its fourth quarter and full year 2023 results on February 23, 2024. A conference call and webcast will be held to discuss the results, inviting investors, analysts, and the media to participate.
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TransAlta Corporation Enters into Automatic Share Purchase Plan

Rhea-AI Summary
TransAlta Corporation (TransAlta) (TSX: TA) (NYSE: TAC) has entered into an automatic share purchase plan (ASPP) to facilitate repurchases of its common shares under the previously announced normal course issuer bid (NCIB). The company has purchased 6,989,000 common shares since January 1, 2023, and 871,100 common shares since the beginning of the current NCIB on May 31, 2023. The prevailing price for the common shares may not reflect their underlying value, leading the company to believe that the purchase of common shares under the NCIB is an attractive and appropriate use of available funds. The ASPP will allow for purchases of common shares to be made at times when the company would ordinarily not be permitted to make purchases, enhancing shareholder returns through appropriate capital allocation such as a share buyback and quarterly dividend underpinned by the company's strong free cash flow position.
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TransAlta Declares Dividends

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TransAlta Corporation (TSX: TA) (NYSE: TAC) declares quarterly dividends on its Cumulative Redeemable Rate Reset First Preferred Shares for the period from December 31, 2023, to March 31, 2024. The dividend rates range from 2.877% to 8.142%, with dividend per share varying from $0.17981 to $0.50609. Record date is March 1, 2024, and payment date is March 31, 2024.
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TransAlta and BHP Announce Commercial Operation of Innovative Hybrid Renewables Facility to Power Remote Mining Operations in Western Australia

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TransAlta Corporation (TA) and BHP Group Limited (BHP) announced the successful commercial operation of the 48 MW Northern Goldfields solar and battery storage facility, supplying reliable electricity to BHP's remote nickel mining operations in Western Australia. The project is expected to reduce emissions by 12% at BHP Nickel West's operations, with long-term contracted cash flows and a contract life of 16 years. The facility created over 100 jobs during construction and will continue to support ongoing employment opportunities during operations.
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TransAlta Announces Growth Targets to 2028, Financial Outlook for 2024 and Declares Dividend Increase of 9%

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TransAlta Corporation (TA, TAC) has announced an updated strategic growth plan to 2028, aiming to deliver up to 1.75 GW of new capacity with a $3.5 billion investment. The company will focus on customer-centered renewables and storage, expanding its development pipeline to reach 10 GW by 2028. Additionally, the Board of Directors has approved a 9% increase in the common share dividend, and a joint development agreement with Hancock Prospecting has been announced. The 2024 financial outlook includes an adjusted EBITDA outlook in the range of $1.15 billion to $1.3 billion and Free Cash Flow of $450 to $600 million.
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TransAlta Reports Third Quarter 2023 Results

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TransAlta Corporation reported a significant improvement in financial performance for the third quarter of 2023, with earnings before income taxes of $453 million and net earnings of $372 million. The company also achieved commercial operations at the Garden Plain wind facility and topped Newsweek's Most Trustworthy Companies list for 2023. TransAlta is set to acquire Heartland Generation and has completed the acquisition of TransAlta Renewables, simplifying its structure and enhancing its strategic position.
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TransAlta to Acquire Heartland Generation from Energy Capital Partners for $658 million - Expands Capabilities to Meet Demands of Energy Transition

Rhea-AI Summary
TransAlta Corporation (TSX: TA) (NYSE: TAC) has entered into a definitive share purchase agreement to acquire Heartland Generation Ltd. and Alberta Power (2000) Ltd. for $390 million. The transaction is expected to close in the first half of 2024. The acquisition will add 1,844 MW of flexible capacity and enhance TransAlta's competitive positioning in Alberta's energy-only market. The assets have a weighted-average remaining contract life of 16 years and are expected to generate approximately $115 million of average annual EBITDA including synergies. The acquisition is highly accretive to free cash flow and cash yield, with corporate pre-tax synergies expected to exceed $20 million annually.
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TransAlta Declares Dividends

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TransAlta Corporation (TSX: TA) (NYSE: TAC) has declared a quarterly dividend of $0.055 per common share payable on January 1, 2024. The company has also declared quarterly dividends for its Cumulative Redeemable Rate Reset First Preferred Shares, with rates ranging from 2.877% to 8.257% and dividend per share ranging from $0.17981 to $0.52030. Dividend payments will be made on December 31, 2023. Please note that the quarterly floating rate on the Series B and Series D Preferred Shares will be reset every quarter. All currency is expressed in Canadian dollars except where noted.
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FAQ

What is the current stock price of TransAlta Corporation (TAC)?

The current stock price of TransAlta Corporation (TAC) is $10.26 as of November 15, 2024.

What is the market cap of TransAlta Corporation (TAC)?

The market cap of TransAlta Corporation (TAC) is approximately 3.1B.

What is TransAlta Corporation's primary business?

TransAlta Corporation is primarily engaged in the generation and sale of electricity from a diverse portfolio of assets, including wind, hydro, coal, and natural gas facilities.

Where does TransAlta operate?

TransAlta operates in Canada, the United States, and Australia, providing power to millions of customers across these regions.

What segments does TransAlta report in?

TransAlta reports in six segments: hydro, wind & solar, energy marketing, gas, energy transition, and the corporate segment.

How does TransAlta contribute to sustainability?

TransAlta has achieved a 66% reduction in GHG emissions since 2015 and aligns its corporate goals with the UN Sustainable Development Goals. The company also follows international standards for climate change reporting.

What recent projects has TransAlta undertaken?

Recent projects include a new pipeline in Australia, new transmission projects in Alberta, and various initiatives to expand its renewable energy portfolio.

How does TransAlta support employee growth?

TransAlta provides numerous opportunities for professional development, with a high percentage of new graduates moving to permanent positions and a majority of new hires recommending the company.

What is TransAlta's approach to shareholder value?

TransAlta enhances shareholder value through strategic capital allocation, including share buybacks under its NCIB and ASPP, as well as maintaining a strong free cash flow position.

How long has TransAlta been in operation?

TransAlta has been in operation for over 112 years, establishing itself as a responsible and reliable power producer.

What is the significance of TransAlta's MSCI ESG rating?

TransAlta's upgraded MSCI ESG rating of AA reflects its strong commitment to environmental, social, and governance practices.

Where can I find more information about TransAlta's financial performance?

Detailed information about TransAlta's financial performance can be found in their quarterly and annual reports available on their official website, transalta.com.

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TransAlta Corporation

NYSE:TAC

TAC Rankings

#1650 Ranked by Market Cap
#1268 Ranked by Dividends

TAC Stock Data

3.06B
298.40M
0.21%
69.68%
1.13%
Utilities - Independent Power Producers
Utilities
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United States of America
Calgary