TransAlta Renewables’ (RNW) “Market Perform” Rating Reaffirmed at Raymond James
Raymond James reissued their market perform rating on shares of TransAlta Renewables (TSE:RNW) in a research note released on Wednesday morning, BayStreet.CA reports. The firm currently has a C$12.50 target price on the stock. Raymond James also issued estimates for TransAlta Renewables’ FY2019 earnings at $0.86 EPS and FY2020 earnings at $0.80 EPS.
Several other equities research analysts have also recently weighed in on the company. Canaccord Genuity upped their price target on TransAlta Renewables from C$13.00 to C$13.50 in a research report on Tuesday, May 14th. Desjardins reissued an average rating and set a C$13.00 price objective on shares of TransAlta Renewables in a report on Wednesday, April 24th. CIBC lowered TransAlta Renewables from a neutral rating to an underperform rating and boosted their price objective for the stock from C$13.00 to C$13.50 in a report on Wednesday, April 3rd. National Bank Financial boosted their price objective 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. Finally, TD Securities boosted their price objective on TransAlta Renewables from C$13.00 to C$13.50 and gave the stock a buy rating in a report on Thursday, March 7th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of C$13.13.
Shares of RNW opened at C$13.58 on Wednesday. TransAlta Renewables has a twelve month low of C$9.76 and a twelve month high of C$14.03. The stock has a market cap of $3.59 billion and a PE ratio of 14.79. The company has a current ratio of 1.57, a quick ratio of 1.18 and a debt-to-equity ratio of 38.90.
The firm also recently disclosed a monthly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 31st will be issued a dividend of $0.0783 per share. This represents a $0.94 annualized dividend and a dividend yield of 6.92%. The ex-dividend date of this dividend is Tuesday, May 14th. TransAlta Renewables’s payout ratio is 102.39%.
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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