ATB Capital Downgrades TransAlta Renewables (TSE:RNW) to Tender

Posted by on Jul 13th, 2023

ATB Capital lowered shares of TransAlta Renewables (TSE:RNW – Free Report) from a sector perform rating to a tender rating in a report published on Wednesday morning, BayStreet.CA reports. They currently have C$13.00 price target on the stock, down from their prior price target of C$14.00.

Several other equities analysts also recently commented on the company. TD Securities boosted their price target on TransAlta Renewables from C$12.00 to C$12.50 and gave the company a hold rating in a research note on Monday, May 8th. Atb Cap Markets downgraded shares of TransAlta Renewables from an outperform rating to a sector perform rating in a research note on Sunday, May 7th. CSFB raised shares of TransAlta Renewables from a neutral rating to an outperform rating in a report on Tuesday, May 16th. Finally, National Bankshares cut their price target on shares of TransAlta Renewables from C$13.00 to C$12.50 in a report on Thursday, July 6th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Hold and an average price target of C$14.50.

TransAlta Renewables Price Performance

Shares of RNW stock opened at C$13.32 on Wednesday. TransAlta Renewables has a 12 month low of C$10.63 and a 12 month high of C$18.45. The company has a market capitalization of C$3.56 billion, a P/E ratio of 45.93, a P/E/G ratio of 2.71 and a beta of 0.73. The stock has a 50 day moving average of C$12.11 and a two-hundred day moving average of C$12.05. The company has a current ratio of 0.81, a quick ratio of 0.82 and a debt-to-equity ratio of 44.52.

TransAlta Renewables (TSE:RNW – Get Free Report) last posted its earnings results on Friday, May 5th. The company reported C$0.17 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.15 by C$0.02. The business had revenue of C$119.00 million for the quarter, compared to analysts’ expectations of C$134.80 million. TransAlta Renewables had a net margin of 14.55% and a return on equity of 4.12%. As a group, equities analysts expect that TransAlta Renewables will post 0.7003155 EPS for the current year.

TransAlta Renewables Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, July 31st. Stockholders of record on Monday, July 31st will be given a dividend of $0.0783 per share. The ex-dividend date of this dividend is Thursday, July 13th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 7.05%. TransAlta Renewables’s payout ratio is 324.14%.

TransAlta Renewables Company Profile

(Get Free Report)

TransAlta Renewables Inc owns, develops, and operates renewable and natural gas power generation facilities and other infrastructure assets in Canada, the United States, and Australia. The company operates through Canadian Wind, Canadian Hydro, Canadian Gas, US Wind and Solar, US Gas, and Australian Gas segments.

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Analyst Recommendations for TransAlta Renewables (TSE:RNW)

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