Innergex Renewable Energy Inc. (TSE:INE) Receives C$12.56 Average Price Target from Analysts

Innergex Renewable Energy Inc. (TSE:INE) has been given an average recommendation of “Moderate Buy” by the ten research firms that are currently covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is C$12.56.

Several analysts recently issued reports on the company. Scotiabank raised their price target on Innergex Renewable Energy from C$10.50 to C$12.50 and gave the stock an “outperform” rating in a report on Wednesday, June 12th. Desjardins lifted their price objective on shares of Innergex Renewable Energy from C$13.00 to C$14.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. Cormark cut shares of Innergex Renewable Energy from a “moderate buy” rating to a “hold” rating in a research report on Friday, August 9th. National Bankshares lifted their price target on 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. Finally, TD Securities downgraded Innergex Renewable Energy from a “buy” rating to a “hold” rating and set a C$10.00 price objective for the company. in a research report on Friday, July 26th.

Innergex Renewable Energy Trading Up 2.1 %

Shares of INE opened at C$10.02 on Tuesday. Innergex Renewable Energy has a one year low of C$7.05 and a one year high of C$12.06. The stock has a 50-day moving average price of C$9.60 and a 200 day moving average price of C$9.20. The company has a debt-to-equity ratio of 428.86, a quick ratio of 0.58 and a current ratio of 0.57. The company has a market capitalization of C$2.03 billion, a P/E ratio of -15.42, a P/E/G ratio of 20.61 and a beta of 0.34.

Innergex Renewable Energy (TSE:INE) last issued its earnings results on Wednesday, August 7th. The company reported C($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C($0.02) by C($0.01). The company had revenue of C$239.51 million during the quarter, compared to analyst estimates of C$256.60 million. Innergex Renewable Energy had a negative net margin of 11.96% and a negative return on equity of 9.27%. Sell-side analysts forecast that Innergex Renewable Energy will post 0.1533048 EPS for the current fiscal year.

Innergex Renewable Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 15th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date of this dividend is Friday, September 27th. Innergex Renewable Energy’s dividend payout ratio (DPR) is presently -55.38%.

Innergex Renewable Energy Company Profile

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.