CALGARY - TransAlta (TSX:TA) Corporation (NYSE:TAC), a leading provider of electric services with a market capitalization of $4.1 billion, announced today it will host a conference call to discuss its fourth quarter and full-year 2024 financial results.
The call is scheduled for February 20, 2025, as detailed in a recent 6-K filing with the Securities and Exchange Commission. According to InvestingPro data, the company has demonstrated strong momentum with a 75% return over the past year.
The utility, which operates under the industrial classification of Electric Services, will adhere to the 1934 Securities Exchange Act requirements for foreign private issuers by filing annual reports under cover of Form 40-F. TransAlta's fiscal year-end is noted as December 31. The company has maintained dividend payments for 38 consecutive years, with InvestingPro analysis showing five consecutive years of dividend increases.
TransAlta, headquartered at TransAlta Place in Calgary, is known for its involvement in energy generation and transportation. The company's business address and contact information were confirmed in the filing, but no further business developments or financial details were disclosed.
In other recent news, TransAlta Corporation has been the subject of several significant developments. The company has announced the acquisition of Heartland Generation, a strategic move that is expected to enhance its generation capacity. The financial terms of the deal were not disclosed, but this acquisition is part of TransAlta's broader strategy to grow its portfolio and strengthen its market position.
In addition, TransAlta has reported a robust third quarter performance with an Adjusted EBITDA of CAD 325 million and free cash flow of CAD 140 million. The company is also making operational adjustments, including mothballing Sundance Unit 6 and exploring redevelopment opportunities for legacy sites.
TransAlta's shares have been upgraded by BMO Capital Markets, which raised the stock's price target from $17.00 to $22.00, maintaining its Outperform rating. The company has also been elevated to the top position on BMO's list of preferred energy infrastructure investments in Canada. RBC Capital Markets has also included TransAlta in its sector picks with a price target of CAD 16 and an "Outperform" rating.
Furthermore, TransAlta has declared dividends, continuing its impressive 37-year streak of consecutive dividend payments. This declaration underscores the company's financial health and its ability to maintain a steady stream of income for investors.
These recent developments highlight the active strategies and financial health of TransAlta Corporation.
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