Innergex Renewable Energy Inc. (TSE:INE – Get Rating) – Research analysts at National Bank Financial increased their Q2 2022 earnings per share estimates for shares of Innergex Renewable Energy in a note issued to investors on Monday, June 13th. National Bank Financial analyst R. Merer now expects that the company will earn $0.10 per share for the quarter, up from their previous estimate of $0.06. The consensus estimate for Innergex Renewable Energy’s current full-year earnings is $0.43 per share. National Bank Financial also issued estimates for Innergex Renewable Energy’s Q3 2022 earnings at $0.19 EPS, Q4 2022 earnings at $0.10 EPS, FY2022 earnings at $0.38 EPS and FY2023 earnings at $0.46 EPS.
INE has been the subject of a number of other reports. Raymond James set a C$24.00 price objective on Innergex Renewable Energy and gave the stock an “outperform” rating in a research note on Thursday, May 12th. TD Securities upgraded Innergex Renewable Energy from a “hold” rating to a “buy” rating and decreased their price target for the company from C$21.00 to C$19.00 in a research note on Thursday, May 12th. Credit Suisse Group increased their price target on Innergex Renewable Energy from C$24.00 to C$25.00 and gave the company an “outperform” rating in a research note on Wednesday, April 20th. Finally, CSFB increased their price objective on Innergex Renewable Energy from C$24.00 to C$25.00 in a report on Wednesday, April 20th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Innergex Renewable Energy presently has a consensus rating of “Buy” and an average price target of C$23.48.
Innergex Renewable Energy (TSE:INE – Get Rating) last issued its earnings results on Tuesday, May 10th. The company reported C($0.02) earnings per share for the quarter, topping the consensus estimate of C($0.04) by C$0.02. The firm had revenue of C$188.72 million during the quarter, compared to analysts’ expectations of C$181.30 million.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Thursday, June 30th will be given a $0.18 dividend. The ex-dividend date of this dividend is Wednesday, June 29th. This represents a $0.72 annualized dividend and a dividend yield of 4.14%. Innergex Renewable Energy’s dividend payout ratio (DPR) is presently -757.89%.
In related news, Director Richard Gagnon acquired 1,520 shares of Innergex Renewable Energy stock in a transaction that occurred on Thursday, May 12th. The shares were purchased at an average price of C$16.46 per share, for a total transaction of C$25,019.20. Following the completion of the transaction, the director now owns 5,170 shares in the company, valued at approximately C$85,098.20.
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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