According to Bloomberg Ratings, the ten brokerages now monitoring TransAlta Renewables Inc. (TSE: RNW) have assigned a “Hold” rating, on average, to the firm’s shares in their company coverage. This information is derived from the brokerages’ ratings of the company. The consensus of five research experts is that this stock should continue to be held in their portfolios. Most analysts who analyzed the company in the preceding year have established their price goal for its stock for the next year at an average of C$19.10 per share. Numerous analysts have contributed to the body of knowledge concerning RNW through their research. In a research report published on Thursday, May 5th, Raymond James assigned a “market perform” rating to shares of TransAlta Renewables. The firm also established a price target of $29.00 for the business in a research report published on Thursday, May 5th.
The Canadian Imperial Bank of Commerce (CIBC) stated its intention to raise its price target for TransAlta Renewables from C$18.50 to C$19.00 in a research note released on August 8th. CSFB revealed its decision to expand its target price for TransAlta Renewables from $19.00 to $19.50 in a research note made public on August 24th and published on August 24th. TD Securities upgraded its price target for the business while also assigning it a “hold” rating in a research report posted on Thursday, May 5th. The study was related to the fact that TD Securities had given TransAlta Renewables a “hold” rating. Royal Bank of Canada lowered its rating on TransAlta Renewables from “sector performs” to “sector perform” in a research note published on Thursday, May 5th.
The actions the bank took did not include this one in the least. When trading started on Tuesday, one share of TransAlta Renewables went for 17.29 Canadian dollars. During the past year, the price of a share of TransAlta Renewables has fluctuated between $15.87 and $20.56. The price as of right now is $15.87. The debt-to-equity ratio, the current ratio, and the quick ratio each add up to 49.23, and they are 0.96 and 0.87, respectively. All three of these ratios add up to the same number. The corporation has a price-to-earnings ratio of 40.21, which results in a market value of 4.61 billion Canadian dollars for the business. The stock price has maintained a moving average of $17.59 over the previous two hundred days, while the price has maintained a moving average of $17.29 over the past fifty days.
On Thursday, August 4th, the most recent quarterly earnings report for TransAlta Renewables (TSE: RNW) was released for public consumption. The company’s quarterly earnings came in significantly lower than the consensus forecast of C$0.14 per share from financial analysts. The company reported earnings of C$0.05 per share for the quarter. The amount of money brought in during the quarter was much more than the consensus estimate of 111.90 million Canadian dollars, which came in at 139.90 million Canadian dollars. Sell-side analysts estimate that TransAlta Renewables will generate $0.7895609 per share during the current fiscal year. That is based on the company’s historical performance. Additionally, the company announced that it would be implementing a monthly dividend that would be paid out on the 31st of each month, with the first distribution occurring in August.
Shareholders whose records were up to date as of August 31st will be eligible to receive a $0.0783 dividend payment per share. That results in a dividend payment of $0.94 annually and a dividend yield of 5.43%. The annualized dividend payment is calculated as follows: The ex-dividend day is Friday, August 12th, coming very soon. At this time, the dividend payout ratio for TransAlta Renewables is at a whopping 218.60%. The firm’s name is TransAlta Renewables, Inc., and its primary activities include developing new facilities for generating renewable energy, ownership of such facilities, and managing such facilities.
The company is structured with several different departments, the most prominent of which are the following: wind energy from Canada, hydropower from Canada, gas from Canada, wind and solar energy from the United States, gas from the United States, and gas from Australia. It owned and operated 26 wind facilities, 13 hydroelectric facilities, eight natural gas generation facilities, two solar facilities, one natural gas pipeline, and one battery storage project in several states and provinces, including British Columbia, Alberta, Ontario, Québec, New Brunswick, Pennsylvania, New Hampshire, Wyoming, Massachusetts, Michigan, Minnesota, Washington, North Carolina, and the state of St. Augustine. Across those states and the Santa Barbara County area, it had a combined net producing capacity of 2,968 megawatts. It was dispersed across the entirety of the nation.