From an article about RNW The Calgary-based TransAlta Renewables Inc. (TSX:RNW) is another clean energy stock to benefit from the changing energy mix. The company manages 30 facilities globally to produce energy from gas, hydro, and wind sources.
But its stock has been under pressure for the past one year, falling 21% as the company borrowed to fund its expansion. Last month, the company announced it will buy three assets from TransAlta Corporation, including a wind farm in Minnesota and solar projects located in Massachusetts with a total purchase price of $166 million.
The company’s shares plunged more than 6% yesterday when it announced it will issue 11.8 million new common shares at $12.65 a share to fund these transactions and pay down debt. Despite this temporary setback, I think TransAlta’s 7.28% yield is too attractive to ignore, especially when demand for clean energy is rising.
Trading at $12.38, TransAlta’s valuations have become compelling after this plunge, and if you’re bullish on the future of clean energy, then this stock is a good bargain.
To read more go to;
https://www.fool.ca/2018/06/15/2-energy-stocks-to-earn-a-dividend-yield-up-to-7/