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XLU - TransAlta Renewables: 5.7% Yield On Lowest Leveraged Utility
SPDR Select Sector Fund - Utilities
When we last covered TransAlta Renewables (OTC:TRSWF), we were unabashedly bullish. Specifically we said that,
TRSWF is one of the best ways to play the clean energy boom while getting a hefty dividend. The company did squander some appreciation potential by doing an equity raise in 2018 at $12.65 for $150 million instead of increasing leverage. But it still has opportunities today to take on debt at a sub 4% rate and invest in projects that return 8-12% to further leverage its returns. We see a 20% upside in the next 12 months