TransAlta Renewables (RNW) Hits New 52-Week High at $13.28

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Shares of TransAlta Renewables Inc (TSE:RNW) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$13.28 and last traded at C$13.27, with a volume of 268744 shares. The stock had previously closed at C$13.10.

RNW has been the subject of a number of recent research reports. CIBC raised their target price on TransAlta Renewables from C$12.00 to C$13.00 in a research note on Thursday, March 7th. TD Securities raised their target price on TransAlta Renewables from C$13.00 to C$13.50 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Raymond James reaffirmed a “hold” rating and issued a C$12.50 target price on shares of TransAlta Renewables in a research note on Tuesday, January 8th. Industrial Alliance Securities raised their target price on TransAlta Renewables from C$12.00 to C$13.00 and gave the stock a “hold” rating in a research note on Thursday, March 7th. Finally, National Bank Financial increased their price target on TransAlta Renewables from C$12.50 to C$13.00 and gave the stock a “sector perform” rating in a report on Friday, March 8th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. TransAlta Renewables currently has a consensus rating of “Hold” and a consensus price target of C$12.81.

The firm has a market capitalization of $3.51 billion and a price-to-earnings ratio of 14.53. The company has a quick ratio of 1.18, a current ratio of 1.57 and a debt-to-equity ratio of 38.90.

TransAlta Renewables (TSE:RNW) last released its quarterly earnings results on Wednesday, March 6th. The company reported C$0.35 earnings per share for the quarter. The business had revenue of C$140.00 million for the quarter, compared to analysts’ expectations of C$144.00 million. Analysts expect that TransAlta Renewables Inc will post 0.839999981837838 EPS for the current year.

The firm also recently declared a monthly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 29th will be issued a dividend of $0.0783 per share. This represents a $0.94 dividend on an annualized basis and a dividend yield of 7.04%. The ex-dividend date of this dividend is Thursday, March 14th. TransAlta Renewables’s dividend payout ratio is presently 102.39%.

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TransAlta Renewables Company Profile (TSE:RNW)

TransAlta Renewables Inc develops, owns, and operates renewable power generation facilities. As of October 19, 2018, 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 2,421 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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