TransAlta Renewables Inc. (TSE:RNW – Get a rating) shares dipped below their two-hundred-day moving average during trading on Thursday. The stock has a two hundred day moving average of C$17.56 and traded as high as C$15.89. Shares of TransAlta Renewables last traded at C$15.96 with a volume of 701,911 shares changing hands.
Analysts set new price targets
Several equities analysts recently weighed in on RNW shares. CIBC upped their target price on shares of TransAlta Renewables from C$18.50 to C$19.00 in a research note on Monday, August 8th. National Bankshares upped their target price on shares of TransAlta Renewables from C$18.50 to C$19.00 and gave the stock a “sector perform” rating in a research report on Monday, August 8th. CSFB upped their target price on shares of TransAlta Renewables from C$19.00 to C$19.50 in a research note on Wednesday, August 24th. Finally, Credit Suisse Group boosted their target price on shares of TransAlta Renewables to C$19.50 in a research report on Wednesday, August 24th. Six analysts have rated the stock with a hold rating. The company presently has a consensus rating of “Hold” and a consensus target price of C$19.10, according to MarketBeat.
TransAlta’s renewable energy stock performance
The stock’s 50-day moving average is C$17.39, and its two-hundred-day moving average is C$17.56. The company has a market cap of C$4.26 billion and a P/E ratio of 37.12. The company has a gearing ratio of 0.87, a current ratio of 0.96, and a debt-to-equity ratio of 49.23.
TransAlta Renewables (TSE:RNW – Get a rating) last issued its quarterly earnings data on Thursday, August 4th. The company reported C$0.05 EPS for the quarter, missing analysts’ consensus estimates of C$0.14 by C$0.09. The company had revenue of C$139.00 million for the quarter, compared to analyst expectations of C$111.90 million. On average, research analysts predict that TransAlta Renewables Inc. will earn 0.79 earnings per share in the current fiscal year.
TransAlta Renewables Dividend Announcement
The company also recently declared a monthly dividend, which was paid on Wednesday, August 31st. Investors of record on Wednesday, August 31st were paid a $0.0783 dividend. This represents a $0.94 annual dividend and a yield of 5.89%. The ex-dividend date was Friday, August 12th. TransAlta Renewables’ dividend payout ratio is currently 218.60%.
About TransAlta Renewables
TransAlta Renewables Inc develops, owns and operates renewable energy facilities. The company operates through the 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 facilities, 2 solar facilities, 1 gas pipeline, and 1 storage battery containing 2,968 megawatts of net generating capacity. located in the provinces of British Columbia, Alberta, Ontario, Quebec, New Brunswick, Pennsylvania, New Hampshire, Wyoming, Massachusetts, Michigan, Minnesota, Washington, North Carolina and Western Australia.
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https://www.defenseworld.net/2022/09/23/transalta-renewables-tsernw-shares-pass-below-two-hundred-day-moving-average-of-17-56.html Shares of TransAlta Renewables (TSE:RNW) are dipping below their two hundred day moving average of $17.56