Innergex Renewable Energy (TSE:INE) Upgraded at TD Securities

Innergex Renewable Energy (TSE:INE – Get Rating) was upgraded by analysts at TD Securities from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, BayStreet.CA reports. The firm currently has a C$19.00 price objective on the stock, down from their previous price objective of C$21.00. TD Securities’ price target suggests a potential upside of 13.91% from the company’s previous close.

A number of other equities analysts also recently commented on INE. Credit Suisse Group lifted their price objective on shares of Innergex Renewable Energy from C$24.00 to C$25.00 and gave the stock an “outperform” rating in a report on Wednesday, April 20th. CSFB boosted their price target on shares of Innergex Renewable Energy from C$24.00 to C$25.00 in a report on Wednesday, April 20th. Raymond James set a C$24.00 price target on shares of Innergex Renewable Energy and gave the company an “outperform” rating in a report on Thursday. Finally, Scotiabank reduced their price target on shares of Innergex Renewable Energy from C$26.50 to C$20.25 in a report on Thursday, January 27th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Innergex Renewable Energy presently has a consensus rating of “Buy” and a consensus price target of C$23.48.

Innergex Renewable Energy stock traded up C$0.26 during mid-day trading on Thursday, reaching C$16.68. The company’s stock had a trading volume of 88,562 shares, compared to its average volume of 544,497. The firm has a market cap of C$3.40 billion and a price-to-earnings ratio of -15.27. The business has a 50 day moving average price of C$18.69 and a 200-day moving average price of C$18.61. The company has a current ratio of 0.53, a quick ratio of 0.38 and a debt-to-equity ratio of 373.46. Innergex Renewable Energy has a twelve month low of C$15.89 and a twelve month high of C$23.09.

Innergex Renewable Energy (TSE:INE – Get Rating) last released its quarterly earnings data on Wednesday, February 23rd. The company reported C($0.06) EPS for the quarter. The business had revenue of C$202.39 million for the quarter. On average, equities analysts expect that Innergex Renewable Energy will post 0.38 EPS for the current fiscal year.

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.

Featured Stories