TransAlta Renewables (TSE:RNW) Upgraded at CIBC

CIBC upgraded shares of TransAlta Renewables (TSE:RNW) from an underperform rating to a neutral rating in a research note issued to investors on Thursday, BayStreet.CA reports.

Several other brokerages also recently commented on RNW. National Bank Financial boosted their target price on shares of TransAlta Renewables from C$13.00 to C$13.25 and gave the company a sector perform rating in a research note on Wednesday, July 10th. Raymond James reiterated a market perform rating and set a C$14.50 price target on shares of TransAlta Renewables in a research report on Friday, August 9th. Canaccord Genuity upped their price target on shares of TransAlta Renewables from C$13.00 to C$13.50 in a research report on Tuesday, May 14th. Finally, Desjardins reiterated an average rating and set a C$13.00 price target on shares of TransAlta Renewables in a research report on Wednesday, April 24th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of Hold and an average price target of C$13.41.

Shares of TSE:RNW opened at C$12.95 on Thursday. TransAlta Renewables has a 52 week low of C$9.76 and a 52 week high of C$14.34. The company has a debt-to-equity ratio of 41.50, a quick ratio of 0.90 and a current ratio of 2.10. The company’s fifty day moving average is C$13.63 and its 200-day moving average is C$13.42. The company has a market capitalization of $3.42 billion and a PE ratio of 16.09.

The business also recently declared a monthly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 30th will be given a dividend of $0.0783 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $0.94 annualized dividend and a yield of 7.26%. TransAlta Renewables’s dividend payout ratio (DPR) is 116.77%.

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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