TransAlta Renewables Inc. (TSE:RNW) Receives C$18.94 Average Price Target from Brokerages

TransAlta Renewables Inc. (TSE:RNW – Get Rating) has been given an average recommendation of “Hold” by the nine analysts that are covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation. The average 12 month price objective among analysts that have covered the stock in the last year is C$18.94.

RNW has been the topic of several recent research reports. Industrial Alliance Securities downgraded TransAlta Renewables to a “hold” rating and set a C$19.00 price objective on the stock. in a research report on Thursday, March 10th. Raymond James set a C$19.00 price objective on TransAlta Renewables and gave the company a “market perform” rating in a research report on Thursday, May 5th. CIBC reduced their price objective on TransAlta Renewables from C$19.50 to C$19.00 and set a “neutral” rating on the stock in a research report on Monday, February 28th. National Bankshares dropped their target price on TransAlta Renewables from C$19.00 to C$18.50 and set a “sector perform” rating for the company in a research note on Monday, May 9th. Finally, TD Securities upped their target price on TransAlta Renewables from C$18.00 to C$18.50 and gave the company a “hold” rating in a research note on Thursday, May 5th.

Shares of RNW opened at C$16.28 on Thursday. The stock has a 50-day simple moving average of C$17.50 and a 200-day simple moving average of C$17.75. The company has a debt-to-equity ratio of 48.92, a quick ratio of 0.67 and a current ratio of 0.79. The stock has a market capitalization of C$4.35 billion and a PE ratio of 33.71. TransAlta Renewables has a 1 year low of C$15.87 and a 1 year high of C$22.55.

TransAlta Renewables (TSE:RNW – Get Rating) last released its earnings results 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 firm had revenue of C$143.00 million during the quarter, compared to analyst estimates of C$118.10 million. Analysts predict that TransAlta Renewables will post 0.7900001 EPS for the current year.

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