TransAlta Renewables (TSE:RNW) Share Price Crosses Below 50-Day Moving Average of $13.71

TransAlta Renewables Inc (TSE:RNW)’s share price crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $13.71 and traded as low as $13.68. TransAlta Renewables shares last traded at $13.72, with a volume of 59,773 shares traded.

A number of analysts recently commented on RNW shares. Industrial Alliance Securities lifted their price objective on TransAlta Renewables from C$12.00 to C$13.00 and gave the stock a “hold” rating in a research report on Thursday, March 7th. CIBC lifted their price objective on TransAlta Renewables from C$12.00 to C$13.00 in a research report on Thursday, March 7th. TD Securities lifted their price objective on TransAlta Renewables from C$13.00 to C$13.50 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Raymond James reiterated a “market perform” rating and set a C$12.50 price objective on shares of TransAlta Renewables in a research report on Thursday, March 7th. Finally, National Bank Financial lifted their price objective on TransAlta Renewables from C$12.50 to C$13.00 and gave the company a “sector perform” rating in a research note on Friday, March 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of C$13.13.

The company has a market cap of $3.66 billion and a price-to-earnings ratio of 14.67. The company has a quick ratio of 0.91, a current ratio of 2.03 and a debt-to-equity ratio of 39.78. The firm’s fifty day moving average price is C$13.71.

TransAlta Renewables (TSE:RNW) last announced its earnings results on Monday, May 13th. The company reported C$0.29 EPS for the quarter, beating the consensus estimate of C$0.22 by C$0.07. The company had revenue of C$127.00 million for the quarter, compared to analysts’ expectations of C$116.40 million. As a group, equities research analysts forecast that TransAlta Renewables Inc will post 0.8399999 earnings per share for the current year.

The business also recently announced a monthly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 31st will be issued a dividend of $0.0783 per share. The ex-dividend date is Friday, July 12th. This represents a $0.94 annualized dividend and a dividend yield of 6.78%. TransAlta Renewables’s payout ratio is currently 99.57%.

About TransAlta Renewables (TSE:RNW)

TransAlta Renewables Inc develops, owns, and operates renewable power generation facilities. As of March 6, 2019, it owned and operated 21 wind facilities, 13 hydroelectric facilities, 7 natural gas generation facilities, 1 solar facility, and 1 natural gas pipeline comprising an ownership interest of 2,414 megawatts of generating capacity located in the provinces of British Columbia, Alberta, Ontario, Québec, and New Brunswick; and the States of Wyoming, Massachusetts, and Minnesota, as well as the State of Western Australia.

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