TransAlta Renewables (RNW) Hits New 52-Week Low on Analyst Downgrade

TransAlta Renewables Inc (TSE:RNW) hit a new 52-week low on Monday after National Bank Financial lowered their price target on the stock from C$12.50 to C$12.00. The stock traded as low as C$11.02 and last traded at C$11.08, with a volume of 286600 shares trading hands. The stock had previously closed at C$11.19.

TransAlta Renewables (TSE:RNW) last posted its quarterly earnings data on Thursday, August 2nd. The company reported C$0.26 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of C$0.26. TransAlta Renewables had a negative net margin of 76.60% and a negative return on equity of 13.76%. The business had revenue of C$107.00 million during the quarter, compared to the consensus estimate of C$105.80 million.

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Wednesday, October 31st will be paid a dividend of $0.0783 per share. The ex-dividend date is Friday, October 12th. This represents a $0.94 annualized dividend and a dividend yield of 8.48%.

About TransAlta Renewables (TSE:RNW)

TransAlta Renewables Inc develops, owns, and operates renewable power generation facilities. The company's portfolio consists of wind, hydro, and gas facilities. It owns and operates 18 wind facilities, 13 hydroelectric facilities, 7 natural gas generation facilities, and 1 natural gas pipeline comprising an ownership interest of 2316 megawatts of net generating capacity located in the provinces of British Columbia, Alberta, Ontario, Québec, New Brunswick, the State of Wyoming, and the State of Western Australia.

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