Innergex Renewable Energy (OTCMKTS:INGXF) Stock Crosses Below 50 Day Moving Average of $12.17

Innergex Renewable Energy Inc. (OTCMKTS:INGXF – Get Rating) shares passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $12.17 and traded as low as $12.04. Innergex Renewable Energy shares last traded at $12.04, with a volume of 377 shares changing hands.

Analysts Set New Price Targets

INGXF has been the topic of a number of recent analyst reports. National Bank Financial decreased their target price on Innergex Renewable Energy from C$25.00 to C$23.00 in a research report on Friday, October 7th. Scotiabank boosted their target price on shares of Innergex Renewable Energy from C$18.00 to C$19.25 in a research note on Thursday, December 15th. TD Securities upgraded Innergex Renewable Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, November 9th. BMO Capital Markets reduced their price objective on Innergex Renewable Energy from C$21.00 to C$19.00 in a research report on Tuesday, November 8th. Finally, CIBC downgraded Innergex Renewable Energy from an “outperform” rating to a “neutral” rating in a research report on Monday, January 9th.

Innergex Renewable Energy Stock Performance

The company has a 50-day moving average of $12.17 and a 200-day moving average of $13.10. The firm has a market capitalization of $2.46 billion, a P/E ratio of -66.89 and a beta of 0.52. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 3.51.

Innergex Renewable Energy Cuts Dividend

The company also recently declared a dividend, which was paid on Monday, January 16th. Shareholders of record on Friday, December 30th were issued a dividend of $0.1331 per share. The ex-dividend date of this dividend was Thursday, December 29th. This represents a yield of 4.4%. Innergex Renewable Energy’s payout ratio is -300.00%.

About Innergex Renewable Energy

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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.