TransAlta Renewables Inc. (TSE:RNW)’s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$20.21 and traded as low as C$19.48. TransAlta Renewables shares last traded at C$19.68, with a volume of 374,016 shares trading hands.
A number of research analysts recently issued reports on the company. Credit Suisse Group cut their price objective on TransAlta Renewables to C$21.00 and set an “outperform” rating for the company in a research note on Tuesday, May 25th. CSFB dropped their price target on TransAlta Renewables from C$22.00 to C$21.00 in a research note on Tuesday, May 25th. CIBC restated a “hold” rating and issued a C$21.00 price target on shares of TransAlta Renewables in a research note on Thursday, September 2nd. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a C$22.00 price target on shares of TransAlta Renewables in a research note on Wednesday, August 11th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of C$20.67.
The company has a current ratio of 0.96, a quick ratio of 0.85 and a debt-to-equity ratio of 39.45. The stock has a market capitalization of C$5.25 billion and a P/E ratio of 38.59. The business has a 50-day moving average price of C$20.74 and a 200 day moving average price of C$20.21.
TransAlta Renewables Company Profile (TSE:RNW)
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, QuÃ©bec, and New Brunswick; and the States of Wyoming, Massachusetts, and Minnesota, as well as the State of Western Australia.
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