TransAlta Renewables Inc (RNW) Given Consensus Recommendation of “Hold” by Brokerages

TransAlta Renewables Inc (TSE:RNW) has received a consensus rating of “Hold” from the nine ratings firms that are covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is C$12.78.

A number of research firms have weighed in on RNW. National Bank Financial reduced their price target on TransAlta Renewables from C$12.50 to C$12.00 in a research report on Friday, October 5th. CIBC dropped their price objective on TransAlta Renewables from C$13.00 to C$12.00 in a research note on Wednesday, October 24th. Industrial Alliance Securities cut TransAlta Renewables from a “buy” rating to a “hold” rating and dropped their price objective for the stock from C$14.00 to C$12.00 in a research note on Tuesday, October 9th. Royal Bank of Canada dropped their price objective on TransAlta Renewables from C$14.00 to C$13.00 and set a “sector perform” rating on the stock in a research note on Friday, November 2nd. Finally, Raymond James reiterated a “market perform” rating and set a C$12.50 price objective on shares of TransAlta Renewables in a research note on Friday, November 2nd.

TSE:RNW traded up C$0.02 during trading hours on Wednesday, reaching C$11.20. 206,592 shares of the stock were exchanged, compared to its average volume of 287,485. TransAlta Renewables has a twelve month low of C$10.23 and a twelve month high of C$13.50. The company has a quick ratio of 0.44, a current ratio of 0.60 and a debt-to-equity ratio of 44.14.

The firm also recently declared a monthly dividend, which was paid on Friday, November 30th. Investors of record on Friday, November 30th were paid a $0.0783 dividend. This represents a $0.94 dividend on an annualized basis and a yield of 8.39%. The ex-dividend date was Wednesday, November 14th. TransAlta Renewables’s dividend payout ratio (DPR) is presently 135.44%.

About TransAlta Renewables

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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Analyst Recommendations for TransAlta Renewables (TSE:RNW)

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