Innergex Renewable Energy Inc. (TSE:INE) Given Average Rating of “Moderate Buy” by Brokerages

Innergex Renewable Energy Inc. (TSE:INE – Get Rating) has been given an average recommendation of “Moderate Buy” by the ten analysts that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is C$19.65.

A number of research firms have recently commented on INE. Credit Suisse Group increased their price objective on Innergex Renewable Energy to C$22.00 and gave the company an “outperform” rating in a report on Monday, November 21st. Cormark dropped their price target on Innergex Renewable Energy from C$20.00 to C$19.00 in a research note on Tuesday, January 24th. CIBC dropped their price target on Innergex Renewable Energy from C$20.00 to C$19.00 and set a “neutral” rating on the stock in a research note on Friday, February 24th. CSFB lifted their target price on Innergex Renewable Energy from C$21.50 to C$22.00 in a research note on Monday, November 21st. Finally, BMO Capital Markets lowered their target price on Innergex Renewable Energy from C$19.00 to C$18.00 in a research note on Thursday, January 19th.

Innergex Renewable Energy Price Performance

INE stock opened at C$14.91 on Friday. The company has a debt-to-equity ratio of 405.34, a current ratio of 0.81 and a quick ratio of 0.58. The firm has a market capitalization of C$3.04 billion, a P/E ratio of -34.67, a P/E/G ratio of 20.61 and a beta of 0.34. The business’s 50-day moving average is C$15.64 and its two-hundred day moving average is C$16.58. Innergex Renewable Energy has a 1 year low of C$13.53 and a 1 year high of C$20.46.

Innergex Renewable Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 17th. Stockholders of record on Friday, March 31st will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.83%. The ex-dividend date is Thursday, March 30th. Innergex Renewable Energy’s dividend payout ratio is currently -167.44%.

Innergex Renewable Energy Company Profile

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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.