TransAlta Renewables (TSE:RNW) Upgraded by CSFB to Outperform

CSFB upgraded shares of TransAlta Renewables (TSE:RNW – Get Rating) from a neutral rating to an outperform rating in a research report released on Tuesday morning, BayStreet.CA reports.

A number of other analysts also recently weighed in on RNW. National Bankshares cut their target price on TransAlta Renewables from C$13.25 to C$13.00 and set a sector perform rating for the company in a research report on Monday, May 8th. TD Securities upped their target price on TransAlta Renewables from C$12.00 to C$12.50 and gave the company a hold rating in a research report on Monday, May 8th. CIBC cut their target price on TransAlta Renewables from C$13.50 to C$13.00 in a research report on Friday, February 24th. Atb Cap Markets downgraded TransAlta Renewables from an outperform rating to a sector perform rating in a research report on Sunday, May 7th. Finally, Raymond James cut their target price on TransAlta Renewables from C$16.50 to C$15.50 in a research report on Friday, February 10th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of C$15.05.

TransAlta Renewables Stock Performance

Shares of TSE RNW opened at C$12.69 on Tuesday. The company has a debt-to-equity ratio of 43.77, a current ratio of 0.78 and a quick ratio of 0.82. The stock’s fifty day moving average price is C$12.29 and its two-hundred day moving average price is C$12.52. TransAlta Renewables has a one year low of C$10.63 and a one year high of C$18.45. The firm has a market cap of C$3.39 billion, a price-to-earnings ratio of 42.30, a P/E/G ratio of 2.71 and a beta of 0.76.

TransAlta Renewables (TSE:RNW – Get Rating) last issued its quarterly earnings data on Thursday, February 23rd. The company reported C$0.15 EPS for the quarter, missing analysts’ consensus estimates of C$0.20 by C($0.05). The business had revenue of C$154.00 million during the quarter, compared to analysts’ expectations of C$139.60 million. On average, equities analysts forecast that TransAlta Renewables will post 0.753818 EPS for the current year.

TransAlta Renewables Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, May 31st. Shareholders of record on Wednesday, May 31st will be given a $0.0783 dividend. The ex-dividend date is Friday, May 12th. This represents a $0.94 annualized dividend and a yield of 7.40%. TransAlta Renewables’s dividend payout ratio is presently 313.33%.

TransAlta Renewables Company Profile

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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.