Analysts Set TransAlta Renewables Inc. (TSE:RNW) PT at C$20.56

Shares of TransAlta Renewables Inc. (TSE:RNW) have received an average recommendation of “Hold” from the nine ratings firms that are covering the stock, reports. Five analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is C$20.67.

RNW has been the topic of several recent research reports. CSFB decreased their price objective on TransAlta Renewables from C$22.00 to C$21.00 in a research note on Tuesday, May 25th. TD Securities decreased their target price on shares of TransAlta Renewables from C$21.00 to C$20.00 and set a “hold” rating on the stock in a research note on Thursday, May 13th. Credit Suisse Group lowered their price target on shares of TransAlta Renewables to C$21.00 and set an “outperform” rating on the stock in a report on Tuesday, May 25th. Raymond James reissued a “market perform” rating and issued a C$22.00 price objective on shares of TransAlta Renewables in a research note on Thursday, May 13th. Finally, CIBC increased their price objective on shares of TransAlta Renewables from C$20.00 to C$21.00 and gave the stock a “neutral” rating in a research note on Wednesday.

RNW stock opened at C$21.68 on Monday. TransAlta Renewables has a fifty-two week low of C$14.73 and a fifty-two week high of C$24.47. The firm has a 50-day moving average price of C$20.26. The company has a debt-to-equity ratio of 40.34, a quick ratio of 1.35 and a current ratio of 1.45. The company has a market capitalization of C$5.79 billion and a P/E ratio of 40.91.

TransAlta Renewables (TSE:RNW) last posted its quarterly earnings data on Wednesday, May 12th. The company reported C$0.19 EPS for the quarter, hitting the consensus estimate of C$0.19. The company had revenue of C$126.00 million during the quarter, compared to analysts’ expectations of C$125.80 million. On average, sell-side analysts anticipate that TransAlta Renewables will post 0.78 EPS for the current year.

The firm also recently declared a monthly dividend, which will be paid on Friday, July 30th. Shareholders of record on Friday, July 30th will be paid a $0.0783 dividend. The ex-dividend date is Wednesday, July 14th. This represents a $0.94 annualized dividend and a yield of 4.33%. TransAlta Renewables’s payout ratio is 177.36%.

About TransAlta Renewables

TransAlta Renewables Inc develops, owns, and operates renewable power generation facilities. As of March 3, 2021, it owned and operated 23 wind facilities, 13 hydroelectric facilities, 7 natural gas generation facilities, 1 solar facility, 1 natural gas pipeline, and 1 battery storage comprising an ownership interest of 2,537 megawatts of generating capacity located in the provinces of British Columbia, Alberta, Ontario, Québec, and New Brunswick; and the States of Wyoming, Massachusetts, and Minnesota, as well as the State of Western Australia.

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Analyst Recommendations for TransAlta Renewables (TSE:RNW)

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