TransAlta Renewables - RNW Stock Forecast, Price & News

TransAlta Renewables Inc. develops, owns, and operates renewable power generation facilities. The company operates through Canadian Wind, Canadian Hydro, Canadian Gas, US Wind and Solar, US Gas, and Australian Gas segments. As of February 24, 2022, it owned and operated 26 wind facilities, 13 hydroelectric facilities, 8 natural gas generation facilities, 2 solar facilities, 1 natural gas pipeline, and 1 battery storage project comprising 2,968 megawatts of net generating capacity located in the provinces of British Columbia, Alberta, Ontario, Québec, New Brunswick, the States of Pennsylvania, New Hampshire, Wyoming, Massachusetts, Michigan, Minnesota, Washington, North Carolina, and the State of Western Australia. The company was incorporated in 2013 and is headquartered in Calgary, Canada. TransAlta Renewables Inc. is a subsidiary of TransAlta Corporation.

TransAlta Renewables Trading Up 0.1 %

Shares of TransAlta Renewables stock traded up C$0.01 on Tuesday, hitting C$18.03. 377,855 shares of the company traded hands, compared to its average volume of 395,135. The stock's 50 day moving average price is C$17.13 and its 200-day moving average price is C$17.56. The company has a market cap of C$4.81 billion and a PE ratio of 41.93. TransAlta Renewables has a 52 week low of C$15.87 and a 52 week high of C$20.71. The company has a current ratio of 0.96, a quick ratio of 0.87 and a debt-to-equity ratio of 49.23.

TransAlta Renewables (TSE:RNW - Get Rating) last announced its quarterly earnings results on Thursday, August 4th. The company reported C$0.05 EPS for the quarter, missing the consensus estimate of C$0.14 by C($0.09). The firm had revenue of C$139.00 million during the quarter, compared to analysts' expectations of C$111.90 million. Equities research analysts predict that TransAlta Renewables will post 0.7904397 EPS for the current year.

TransAlta Renewables Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, August 31st. Shareholders of record on Wednesday, August 31st will be paid a $0.0783 dividend. The ex-dividend date is Friday, August 12th. This represents a $0.94 annualized dividend and a yield of 5.21%. TransAlta Renewables's dividend payout ratio (DPR) is presently 218.60%.

Analyst Upgrades and Downgrades

RNW has been the topic of a number of recent research reports. National Bankshares increased their price objective on shares of TransAlta Renewables from C$18.50 to C$19.00 and gave the company a "sector perform" rating in a research report on Monday, August 8th. Raymond James set a C$19.00 price target on TransAlta Renewables and gave the stock a "market perform" rating in a research report on Thursday, May 5th. TD Securities upped their price objective on TransAlta Renewables from C$18.00 to C$18.50 and gave the company a "hold" rating in a research report on Thursday, May 5th. CIBC lifted their target price on TransAlta Renewables from C$18.50 to C$19.00 in a report on Monday, August 8th. Finally, Royal Bank of Canada cut their target price on TransAlta Renewables from C$21.00 to C$20.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 5th. Six analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of C$19.00.