TransAlta Renewables (TSE:RNW) Stock Rating Lowered by Raymond James

Raymond James cut shares of TransAlta Renewables (TSE:RNW) from an outperform rating to a market perform rating in a report issued on Wednesday morning, BayStreet.CA reports. Raymond James currently has C$16.50 price objective on the stock.

RNW has been the subject of a number of other research reports. TD Securities raised shares of TransAlta Renewables from a hold rating to a buy rating and set a C$17.50 price target for the company in a research report on Tuesday, March 31st. CIBC raised their price objective on TransAlta Renewables from C$15.00 to C$15.50 in a research note on Thursday, April 23rd. AltaCorp Capital restated a sector perform rating on shares of TransAlta Renewables in a research note on Monday, July 6th. Finally, National Bank Financial raised their price objective on TransAlta Renewables from C$16.50 to C$17.50 and gave the stock an outperform rating in a research note on Thursday, April 30th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of C$16.58.

RNW stock opened at C$15.60 on Wednesday. TransAlta Renewables has a twelve month low of C$10.82 and a twelve month high of C$18.25. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 37.16. The company has a market capitalization of $4.15 billion and a P/E ratio of 38.90. The firm has a 50 day simple moving average of C$14.44 and a 200-day simple moving average of C$15.06.

TransAlta Renewables (TSE:RNW) last released its quarterly earnings results on Tuesday, May 12th. The company reported C$0.01 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.20 by C($0.19). The firm had revenue of C$110.00 million for the quarter, compared to analyst estimates of C$121.80 million. On average, research analysts predict that TransAlta Renewables will post 0.82 EPS for the current year.

The business also recently announced a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 31st will be paid a $0.0783 dividend. This represents a $0.94 dividend on an annualized basis and a yield of 6.02%. The ex-dividend date is Thursday, August 13th. TransAlta Renewables’s payout ratio is 234.40%.

About TransAlta Renewables

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, Qu├ębec, 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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