Brokerages Set TransAlta Renewables Inc. (TSE:RNW) Target Price at C$18.94

TransAlta Renewables Inc. (TSE:RNWGet Rating) has been assigned a consensus recommendation of “Hold” from the nine analysts that are covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is C$18.94.

A number of brokerages have weighed in on RNW. TD Securities boosted their price target on TransAlta Renewables from C$18.00 to C$18.50 and gave the stock a “hold” rating in a research report on Thursday, May 5th. CIBC reduced their price target on TransAlta Renewables from C$19.50 to C$19.00 and set a “neutral” rating for the company in a research report on Monday, February 28th. Industrial Alliance Securities cut TransAlta Renewables to a “hold” rating and set a C$19.00 price target for the company. in a research report on Thursday, March 10th. National Bankshares reduced their price target on TransAlta Renewables from C$19.00 to C$18.50 and set a “sector perform” rating for the company in a research report on Monday, May 9th. Finally, Raymond James set a C$19.00 price objective on TransAlta Renewables and gave the stock a “market perform” rating in a research note on Thursday, May 5th.

Shares of TransAlta Renewables stock opened at C$16.28 on Thursday. The stock has a market cap of C$4.35 billion and a PE ratio of 33.71. The business has a fifty day simple moving average of C$17.50 and a 200-day simple moving average of C$17.75. The company has a quick ratio of 0.67, a current ratio of 0.79 and a debt-to-equity ratio of 48.92. TransAlta Renewables has a 12 month low of C$15.87 and a 12 month high of C$22.55.

TransAlta Renewables (TSE:RNWGet Rating) last released its quarterly earnings data on Wednesday, May 4th. The company reported C$0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.18 by C($0.03). The company had revenue of C$143.00 million during the quarter, compared to analysts’ expectations of C$118.10 million. Analysts expect that TransAlta Renewables will post 0.7900001 EPS for the current fiscal year.

The business also recently disclosed a monthly dividend, which was paid on Tuesday, May 31st. Shareholders of record on Tuesday, May 31st were issued a dividend of $0.0783 per share. This represents a $0.94 dividend on an annualized basis and a yield of 5.77%. The ex-dividend date was Thursday, May 12th. TransAlta Renewables’s payout ratio is 194.61%.

About TransAlta Renewables (Get Rating)

TransAlta Renewables Inc develops, owns, and operates renewable power generation facilities. The company operates through Canadian Wind, Canadian Hydro, Canadian Gas, US Wind and Solar, US Gas, and Australian Gas segments. As of February 24, 2022, it owned and operated 26 wind facilities, 13 hydroelectric facilities, 8 natural gas generation facilities, 2 solar facilities, 1 natural gas pipeline, and 1 battery storage project comprising 2,968 megawatts of net generating capacity located in the provinces of British Columbia, Alberta, Ontario, Québec, New Brunswick, the States of Pennsylvania, New Hampshire, Wyoming, Massachusetts, Michigan, Minnesota, Washington, North Carolina, and the State of Western Australia.

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