Innergex Renewable Energy Inc. (TSE:INE) Declares $0.09 Quarterly Dividend

Innergex Renewable Energy Inc. (TSE:INE) declared a quarterly dividend on Wednesday, August 7th, Zacks reports. Investors of record on Monday, September 30th will be paid a dividend of 0.09 per share on Tuesday, October 15th. This represents a $0.36 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date is Friday, September 27th.

Innergex Renewable Energy Stock Down 0.6 %

Shares of INE traded down C$0.06 during midday trading on Friday, hitting C$9.63. The stock had a trading volume of 94,450 shares, compared to its average volume of 715,499. The firm has a market cap of C$1.96 billion, a price-to-earnings ratio of -15.14, a price-to-earnings-growth ratio of 20.61 and a beta of 0.34. The company has a 50 day simple moving average of C$10.17 and a two-hundred day simple moving average of C$8.96. Innergex Renewable Energy has a twelve month low of C$7.05 and a twelve month high of C$13.34. The company has a debt-to-equity ratio of 546.12, a current ratio of 0.74 and a quick ratio of 0.58.

Innergex Renewable Energy (TSE:INE) last released its earnings results on Wednesday, May 8th. The company reported C($0.11) EPS for the quarter, meeting the consensus estimate of C($0.11). Innergex Renewable Energy had a negative return on equity of 10.13% and a negative net margin of 11.78%. The firm had revenue of C$242.54 million for the quarter, compared to analysts’ expectations of C$240.80 million. On average, analysts anticipate that Innergex Renewable Energy will post 0.0799919 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on INE. National Bankshares lifted their price objective on shares of Innergex Renewable Energy from C$16.00 to C$17.00 and gave the company an “outperform” rating in a report on Thursday, July 4th. Cibc World Mkts raised shares of Innergex Renewable Energy to a “hold” rating in a research report on Monday, July 22nd. TD Securities cut shares of Innergex Renewable Energy from a “buy” rating to a “hold” rating and set a C$10.00 price target on the stock. in a research report on Friday, July 26th. Desjardins raised their price objective on Innergex Renewable Energy from C$13.00 to C$14.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Finally, CIBC increased their price target on Innergex Renewable Energy from C$11.00 to C$11.50 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Innergex Renewable Energy currently has an average rating of “Moderate Buy” and a consensus target price of C$12.25.

Insider Buying and Selling

In other Innergex Renewable Energy news, Director Patrick Loulou acquired 11,000 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were purchased at an average price of C$10.25 per share, for a total transaction of C$112,750.00. 20.44% of the stock is currently owned by corporate insiders.

About Innergex Renewable Energy

Innergex Renewable Energy Inc operates as an independent renewable power producer in Canada, the United States, France, and Chile. It acquires, owns, develops, and operates renewable power-generating and energy storage facilities primarily in hydroelectric, wind, and solar power sectors. The company operates through three segments: Hydroelectric Power Generation, Wind Power Generation, and Solar Power Generation.