TransAlta Reports in Line Results; Sundance Coal Units To Retire or Convert to Gas Early
We are reaffirming our fair value estimate of CAD 7 per share after TransAlta reported 2017 first-quarter earnings in line with last year and reaffirmed its 2017 comparable EBITDA guidance of CAD 1.025 billion-CAD 1.135 billion. Our no-moat and stable moat trend ratings are unchanged.We were surprised that TransAlta will be retiring two units at Sundance in 2018, well ahead of Alberta's environmental policy to shut coal plants by 2030. In addition, two other units at Sundance will be converted ...
TransAlta and its subsidiaries are engaged in the production and sale of electric energy. Co. has 3 segments: the Generation segment which owns and operates hydro, wind, geothermal, biomass, natural gas and coal-fired facilities, and mining operations; the Energy Trading segment which is engaged in the wholesale trading of electricity ; and the Corporate segment which provides finance, tax, treasury, legal, regulatory, environmental, health and safety, sustainable development, corporate communications, government and investor relations, information technology, risk management, human resources, internal audit, and other administrative support to the Generation and Energy Trading groups.
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