TransAlta Renewables (RNW) Sets New 12-Month Low on Analyst Downgrade

TransAlta Renewables Inc. (TSE:RNW) shares hit a new 52-week low on Thursday after TD Securities lowered their price target on the stock from C$15.00 to C$14.00. The stock traded as low as C$12.93 and last traded at C$13.30, with a volume of 173973 shares traded. The stock had previously closed at C$13.16.

Separately, Scotiabank lowered their price objective on TransAlta Renewables from C$15.00 to C$14.00 and set a “sector perform” rating for the company in a research report on Tuesday, November 14th. Four research analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and an average price target of C$14.67.

The company also recently declared a monthly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 29th will be paid a dividend of $0.0783 per share. This represents a $0.94 dividend on an annualized basis and a yield of 7.26%. The ex-dividend date is Thursday, November 30th. TransAlta Renewables’s dividend payout ratio (DPR) is 2,966.53%.

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About TransAlta Renewables

TransAlta Renewables Inc is a Canada-based company engaged in developing, owning and operating renewable power generation facilities. The Company owns and operates over 10 hydro facilities and approximately 20 wind farms in Western and Eastern Canada with a total installed capacity of approximately 1,140 megawatts (MW) and holds economic interest in approximately 140 MW Wyoming Wind Farm and approximately 420 MW Australian gas-fired generation assets, as well as over 270 kilometers gas pipeline.

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