TransAlta Renewables (TSE:RNW) Stock Crosses Below 200 Day Moving Average of $13.53

TransAlta Renewables Inc (TSE:RNW) shares passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $13.53 and traded as low as $13.16. TransAlta Renewables shares last traded at $13.30, with a volume of 106,703 shares traded.

Several brokerages recently issued reports on RNW. CIBC upgraded TransAlta Renewables from an “underperform” rating to a “neutral” rating in a research note on Thursday, August 22nd. National Bank Financial raised their price objective on TransAlta Renewables from C$13.00 to C$13.25 and gave the stock a “sector perform” rating in a research note on Wednesday, July 10th. Finally, Raymond James reiterated a “market perform” rating and issued a C$14.50 target price on shares of TransAlta Renewables in a research note on Friday, August 9th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of C$13.41.

The company has a quick ratio of 0.90, a current ratio of 2.10 and a debt-to-equity ratio of 41.50. The company has a market capitalization of $3.50 billion and a P/E ratio of 16.57. The business has a 50 day simple moving average of C$13.29 and a 200-day simple moving average of C$13.53.

TransAlta Renewables (TSE:RNW) last posted its earnings results on Thursday, August 8th. The company reported C$0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.17 by C($0.05). The business had revenue of C$111.00 million during the quarter, compared to the consensus estimate of C$108.40 million. Equities analysts forecast that TransAlta Renewables Inc will post 0.850643 EPS for the current fiscal year.

The business also recently announced a monthly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 30th were paid a $0.0783 dividend. This represents a $0.94 dividend on an annualized basis and a yield of 7.04%. The ex-dividend date was Wednesday, August 14th. TransAlta Renewables’s payout ratio is 116.77%.

About TransAlta Renewables (TSE:RNW)

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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