Innergex Renewable Energy Inc. (OTCMKTS:INGXF) Receives $23.71 Consensus PT from Analysts

Innergex Renewable Energy Inc. (OTCMKTS:INGXF – Get Rating) has been assigned a consensus recommendation of “Buy” from the ten brokerages that are presently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $23.71.

Several brokerages have issued reports on INGXF. Raymond James decreased their price objective on shares of Innergex Renewable Energy from C$26.75 to C$24.00 in a research note on Thursday, February 24th. Scotiabank decreased their price target on shares of Innergex Renewable Energy from C$26.50 to C$20.25 in a research note on Thursday, January 27th. CIBC raised shares of Innergex Renewable Energy to an “outperform” rating in a research note on Tuesday, January 11th. Credit Suisse Group started coverage on shares of Innergex Renewable Energy in a report on Wednesday, February 23rd. They set an “outperform” rating on the stock. Finally, TD Securities lowered shares of Innergex Renewable Energy from a “buy” rating to a “hold” rating in a report on Monday, April 4th.

INGXF traded down $0.70 on Wednesday, hitting $14.90. The company had a trading volume of 2,620 shares, compared to its average volume of 3,131. Innergex Renewable Energy has a 12-month low of $12.96 and a 12-month high of $18.99. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 3.59. The business’s fifty day simple moving average is $14.83 and its 200 day simple moving average is $15.07.

The company also recently declared a dividend, which will be paid on Friday, April 15th. Stockholders of record on Thursday, March 31st will be paid a $0.1398 dividend. The ex-dividend date of this dividend is Wednesday, March 30th. This represents a dividend yield of 3.63%. Innergex Renewable Energy’s dividend payout ratio (DPR) is -64.04%.

About Innergex Renewable Energy (Get Rating)

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 hydroelectric facilities, and wind and solar farms, as well as energy storage facilities. The company operates through three segments: Hydroelectric Power Generation, Wind Power Generation, and Solar Power Generation.

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