TransAlta Renewables (TSE:RNW) Given New C$13.25 Price Target at National Bank Financial

TransAlta Renewables (TSE:RNW) had its target price upped by National Bank Financial from C$13.00 to C$13.25 in a research report sent to investors on Wednesday morning, BayStreet.CA reports. The firm currently has a sector perform rating on the stock.

Several other equities analysts have also commented on the stock. Canaccord Genuity increased their price target on shares of TransAlta Renewables from C$13.00 to C$13.50 in a research note on Tuesday, May 14th. CIBC lowered shares of TransAlta Renewables from a neutral rating to an underperform rating and increased their price target for the company from C$13.00 to C$13.50 in a research note on Wednesday, April 3rd. Raymond James reiterated a buy rating and issued a $0.65 price target on shares of DB Commodity Double Short ETN in a research note on Wednesday, May 15th. Finally, Desjardins reiterated a buy rating on shares of Savaria in a research note on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of Hold and an average target price of C$13.16.

Shares of RNW stock traded down C$0.01 during trading hours on Wednesday, reaching C$14.19. 703,737 shares of the stock were exchanged, compared to its average volume of 302,002. The stock has a fifty day moving average price of C$13.82. The company has a debt-to-equity ratio of 39.78, a current ratio of 2.03 and a quick ratio of 0.91. TransAlta Renewables has a 12-month low of C$9.76 and a 12-month high of C$14.34. The stock has a market cap of $3.74 billion and a price-to-earnings ratio of 15.03.

TransAlta Renewables (TSE:RNW) last announced its quarterly earnings results on Monday, May 13th. The company reported C$0.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.22 by C$0.07. The company had revenue of C$127.00 million during the quarter, compared to analysts’ expectations of C$116.40 million. As a group, research analysts predict that TransAlta Renewables will post 0.8500001 EPS for the current year.

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 31st will be issued a $0.0783 dividend. This represents a $0.94 annualized dividend and a dividend yield of 6.62%. The ex-dividend date of this dividend is Friday, July 12th. TransAlta Renewables’s payout ratio is currently 99.57%.

TransAlta Renewables Company Profile

TransAlta Renewables Inc develops, owns, and operates renewable power generation facilities. As of March 6, 2019, it owned and operated 21 wind facilities, 13 hydroelectric facilities, 7 natural gas generation facilities, 1 solar facility, and 1 natural gas pipeline comprising an ownership interest of 2,414 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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