TransAlta Renewables Inc. (TSE:RNW) Receives C$20.67 Average PT from Analysts

TransAlta Renewables Inc. (TSE:RNW) has been assigned a consensus recommendation of “Hold” from the nine ratings firms that are covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is C$20.67.

RNW has been the topic of a number of analyst reports. Credit Suisse Group dropped their target price on TransAlta Renewables to C$21.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 25th. CIBC restated a “hold” rating and set a C$21.00 target price on shares of TransAlta Renewables in a report on Thursday, September 2nd. CSFB reduced their price target on shares of TransAlta Renewables from C$22.00 to C$21.00 in a research report on Tuesday, May 25th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a C$22.00 price target on shares of TransAlta Renewables in a research report on Wednesday, August 11th.

Shares of TSE:RNW traded down C$0.11 during trading on Tuesday, reaching C$19.80. 249,944 shares of the company’s stock traded hands, compared to its average volume of 530,573. TransAlta Renewables has a fifty-two week low of C$15.52 and a fifty-two week high of C$24.47. The company has a quick ratio of 0.85, a current ratio of 0.96 and a debt-to-equity ratio of 39.45. The firm has a market cap of C$5.28 billion and a PE ratio of 38.82. The company has a 50-day simple moving average of C$20.89 and a 200-day simple moving average of C$20.20.

The company also recently announced a monthly dividend, which was paid on Tuesday, August 31st. Shareholders of record on Tuesday, August 31st were given a $0.0783 dividend. This represents a $0.94 dividend on an annualized basis and a yield of 4.75%. The ex-dividend date of this dividend was Thursday, August 12th. TransAlta Renewables’s payout ratio is 184.31%.

TransAlta Renewables Company Profile

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, 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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