Could TransAlta Renewables Inc See a Reversal After This Very Weak Session?

 Could TransAlta Renewables Inc See a Reversal After This Very Weak Session?

The stock of TransAlta Renewables Inc (TSE:RNW) is a huge mover today! About 299,508 shares traded hands or 44.12% up from the average. TransAlta Renewables Inc (TSE:RNW) has risen 19.05% since March 28, 2016 and is uptrending. It has outperformed by 16.04% the S&P500.
The move comes after 5 months negative chart setup for the $3.27B company. It was reported on Nov, 1 by Barchart.com. We have $13.78 PT which if reached, will make TSE:RNW worth $163.50 million less.

TransAlta Renewables Inc (TSE:RNW) Ratings Coverage

Out of 5 analysts covering TransAlta Renewables (TSE:RNW), 2 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 40% are positive. $16 is the highest target while $12.50 is the lowest. The $14.54 average target is 0.28% above today’s ($14.5) stock price. TransAlta Renewables has been the topic of 15 analyst reports since August 4, 2015 according to StockzIntelligence Inc. As per Thursday, December 3, the company rating was upgraded by IBC. RBC Capital Markets maintained the stock with “Outperform” rating in Thursday, December 3 report. On Thursday, August 11 the stock rating was maintained by Desjardins Securities with “Hold”. Scotia Capital maintained the shares of RNW in a report on Thursday, August 11 with “Sector Perform” rating.

More notable recent TransAlta Renewables Inc (TSE:RNW) news were published by: Theglobeandmail.com which released: “The Globe and Mail” on August 10, 2013, also Fool.ca with their article: “Should Investors Buy TransAlta Corporation or TransAlta Renewables Inc.?” published on October 21, 2016, Fool.ca published: “Boost Your Portfolio With TransAlta Renewables Inc.” on August 01, 2016. More interesting news about TransAlta Renewables Inc (TSE:RNW) were released by: Fool.ca and their article: “Why TransAlta Renewables Inc. Is on My Watch List” published on May 31, 2016 as well as Fool.ca‘s news article titled: “The Case to Buy TransAlta Renewables Inc. Today” with publication date: August 19, 2016.

TransAlta Renewables Inc. is a Canada firm engaged in developing, owning and operating renewable power generation facilities. The company has a market cap of $3.27 billion. The Firm 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 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. It has a 22.28 P/E ratio. The Firm also owns economic interests in Sarnia cogeneration plant, Le Nordais wind farm and Ragged Chute hydro facility totaling approximately 610 MW of contracted power generation assets located in Ontario and Quebec.

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