Innergex Renewable Energy Inc. (TSE:INE) Given Consensus Recommendation of “Moderate Buy” by Analysts

Innergex Renewable Energy Inc. (TSE:INE) has earned an average rating of “Moderate Buy” from the ten ratings firms that are covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is C$12.38.

A number of research firms recently weighed in on INE. Scotiabank dropped their target price on Innergex Renewable Energy from C$12.50 to C$11.50 in a research report on Thursday, November 7th. BMO Capital Markets boosted their price objective on shares of Innergex Renewable Energy from C$11.00 to C$11.50 in a report on Thursday, September 5th. Finally, CIBC reduced their target price on shares of Innergex Renewable Energy from C$11.50 to C$11.00 in a report on Thursday, November 7th.

Innergex Renewable Energy Trading Up 1.1 %

TSE INE opened at C$8.05 on Thursday. The stock’s 50-day simple moving average is C$8.68 and its two-hundred day simple moving average is C$9.48. Innergex Renewable Energy has a twelve month low of C$7.05 and a twelve month high of C$10.96. The company has a quick ratio of 0.58, a current ratio of 0.57 and a debt-to-equity ratio of 428.86. The company has a market capitalization of C$1.63 billion, a price-to-earnings ratio of -12.38, a PEG ratio of 20.61 and a beta of 0.36.

Innergex Renewable Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.36 annualized dividend and a yield of 4.47%. Innergex Renewable Energy’s payout ratio is currently -55.38%.

About Innergex Renewable Energy

For over 30 years, Innergex has believed in a world where abundant renewable energy promotes healthier communities and creates shared prosperity, which led to Innergex being recognized as Canada’s best corporate citizens in 2023 by Corporate Knights. As an independent renewable power producer which develops, acquires, owns and operates hydroelectric facilities, wind farms, solar farms and energy storage facilities, Innergex is convinced that generating power from renewable sources will lead the way to a better world.