Innergex Renewable Energy (OTCMKTS:INGXF) Upgraded at TD Securities

Innergex Renewable Energy (OTCMKTS:INGXF – Get Rating) was upgraded by equities research analysts at TD Securities from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, The Fly reports.

Several other analysts have also recently issued reports on INGXF. CIBC raised shares of Innergex Renewable Energy to an “outperform” rating in a report on Tuesday, January 11th. Raymond James dropped their target price on shares of Innergex Renewable Energy from C$26.75 to C$24.00 in a report on Thursday, February 24th. Scotiabank dropped their target price on shares of Innergex Renewable Energy from C$26.50 to C$20.25 in a report on Thursday, January 27th. Finally, Credit Suisse Group initiated coverage on shares of Innergex Renewable Energy in a report on Wednesday, February 23rd. They set an “outperform” rating on the stock. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Innergex Renewable Energy currently has an average rating of “Buy” and an average target price of $23.88.

OTCMKTS INGXF opened at $12.51 on Wednesday. The company’s fifty day simple moving average is $14.78 and its 200-day simple moving average is $14.71. Innergex Renewable Energy has a 52 week low of $12.26 and a 52 week high of $18.49. 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 stock has a market cap of $2.55 billion, a P/E ratio of -14.06 and a beta of 0.50.

Innergex Renewable Energy (OTCMKTS:INGXF – Get Rating) last posted its earnings results on Wednesday, February 23rd. The company reported ($0.05) EPS for the quarter. Innergex Renewable Energy had a negative return on equity of 0.67% and a negative net margin of 25.27%. The firm had revenue of $160.56 million for the quarter.

Innergex Renewable Energy Company Profile (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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