TransAlta Renewable Receives a Hold from Scotiabank

By Ryan Adsit

TransAlta Renewable (TSX: RNW), the Utilities sector company was revisited today, yet the Wall Street analyst remains currently on the sidelines. Scotiabank’s analyst Robert Hope reiterates their Hold rating on the shares, with a C$15 price target.

According to TipRanks.com, Hope is ranked #897 out of 4570 analysts.

TransAlta Renewable has an analyst consensus of Hold, with a price target consensus of C$15.33.

Based on TransAlta Renewable’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of C$129 million and quarterly net profit of C$27 million. In comparison, last year the company earned revenue of C$68 million and had a GAAP net loss of C$36 million.

TransAlta Renewables, Inc. owns a portfolio of renewable power generation facilities. It focuses on the renewable power generation assets and expanding its asset base through the acquisition of additional renewable power generation facilities in operation or under construction. The company’s operations include hydro and wind. TransAlta Renewables was founded on May 28, 2013 and is headquartered in Calgary, Canada.

The company’s shares closed last Monday at $15.55.