TransAlta Renewables (TSE:RNW) Stock Passes Below Two Hundred Day Moving Average of $14.85

TransAlta Renewables Inc. (TSE:RNW – Get Rating) shares crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$14.85 and traded as low as C$12.17. TransAlta Renewables shares last traded at C$12.31, with a volume of 512,279 shares trading hands.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Credit Suisse Group lowered their target price on shares of TransAlta Renewables to C$17.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 25th. TD Securities lowered their target price on shares of TransAlta Renewables from C$16.50 to C$15.00 and set a “hold” rating for the company in a research note on Monday, November 7th. Industrial Alliance Securities restated a “buy” rating and issued a C$17.00 target price on shares of TransAlta Renewables in a research note on Monday, November 28th. Raymond James lowered their target price on shares of TransAlta Renewables from C$19.00 to C$18.00 and set a “market perform” rating for the company in a research note on Monday, November 7th. Finally, Atb Cap Markets upgraded shares of TransAlta Renewables from a “sector perform” rating to an “outperform” rating in a research note on Sunday, October 23rd. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of C$16.19.

TransAlta Renewables Stock Down 0.6 %

The company has a quick ratio of 0.82, a current ratio of 0.89 and a debt-to-equity ratio of 50.52. The company’s 50 day moving average price is C$12.67 and its 200 day moving average price is C$14.85. The firm has a market capitalization of C$3.29 billion and a price-to-earnings ratio of 42.45.

TransAlta Renewables (TSE:RNW – Get Rating) last issued its earnings results on Friday, November 4th. The company reported C($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.09 by C($0.16). The company had revenue of C$124.00 million for the quarter, compared to analysts’ expectations of C$109.30 million. As a group, research analysts forecast that TransAlta Renewables Inc. will post 0.79 earnings per share for the current fiscal year.

TransAlta Renewables Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, January 31st. Investors of record on Tuesday, January 31st will be issued a dividend of $0.0783 per share. The ex-dividend date is Thursday, January 12th. This represents a $0.94 annualized dividend and a dividend yield of 7.63%. TransAlta Renewables’s dividend payout ratio (DPR) is presently 324.12%.

About TransAlta Renewables

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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.