National Bankshares Raises TransAlta Renewables (TSE:RNW) Price Target to C$19.00

TransAlta Renewables (TSE:RNW – Get Rating) had its target price raised by National Bankshares from C$18.50 to C$19.00 in a research report released on Thursday, BayStreet.CA reports. They currently have a sector perform rating on the stock.

A number of other analysts have also weighed in on the stock. ATB Capital cut their target price on shares of TransAlta Renewables from C$21.00 to C$19.00 in a research note on Wednesday, January 12th. TD Securities cut their target price on shares of TransAlta Renewables from C$19.50 to C$18.00 and set a hold rating on the stock in a research note on Wednesday, January 12th. CSFB cut their target price on shares of TransAlta Renewables from C$20.00 to C$19.00 in a research note on Tuesday, January 11th. Industrial Alliance Securities lowered shares of TransAlta Renewables to a hold rating and set a C$19.00 target price on the stock. in a research note on Thursday, March 10th. Finally, Royal Bank of Canada lowered shares of TransAlta Renewables from an outperform rating to a sector perform rating and set a C$21.00 target price on the stock. in a research note on Wednesday, April 13th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, TransAlta Renewables has an average rating of Hold and a consensus target price of C$19.25.

Shares of TSE:RNW opened at C$18.01 on Thursday. The company has a debt-to-equity ratio of 46.21, a current ratio of 0.73 and a quick ratio of 0.61. The firm has a market capitalization of C$4.81 billion and a PE ratio of 34.37. The firm’s 50-day moving average is C$18.17 and its two-hundred day moving average is C$18.16. TransAlta Renewables has a 1 year low of C$16.01 and a 1 year high of C$22.55.

TransAlta Renewables (TSE:RNW – Get Rating) last issued its quarterly earnings results on Thursday, February 24th. The company reported C$0.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C$0.21 by C($0.05). The business had revenue of C$138.00 million for the quarter, compared to the consensus estimate of C$121.90 million. Analysts expect that TransAlta Renewables will post 0.8 EPS for the current fiscal year.

The company also recently disclosed a monthly dividend, which will be paid on Friday, April 29th. Stockholders of record on Friday, April 29th will be issued a $0.0783 dividend. This represents a $0.94 annualized dividend and a dividend yield of 5.22%. The ex-dividend date is Wednesday, April 13th. TransAlta Renewables’s payout ratio is currently 179.38%.

About TransAlta Renewables (Get Rating)

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.

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