Innergex Renewable Energy (TSE:INE) Price Target Increased to C$14.00 by Analysts at Desjardins

Innergex Renewable Energy (TSE:INEFree Report) had its price objective boosted by Desjardins from C$13.00 to C$14.00 in a report issued on Thursday morning, BayStreet.CA reports. Desjardins currently has a buy rating on the stock.

Several other research firms have also issued reports on INE. CIBC upped their price target on shares of Innergex Renewable Energy from C$9.50 to C$10.00 in a research report on Friday, May 10th. Raymond James decreased their price target on Innergex Renewable Energy from C$15.00 to C$13.00 and set an outperform rating on the stock in a research note on Thursday, February 22nd. TD Securities cut their target price on shares of Innergex Renewable Energy from C$12.00 to C$10.00 and set a buy rating on the stock in a report on Wednesday, February 14th. BMO Capital Markets decreased their target price on shares of Innergex Renewable Energy from C$10.00 to C$9.00 and set an outperform rating on the stock in a research note on Thursday, February 22nd. Finally, National Bankshares increased their price target on shares of Innergex Renewable Energy from C$15.00 to C$16.00 and gave the company an outperform rating in a research report on Tuesday, May 28th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of C$12.53.

View Our Latest Report on INE

Innergex Renewable Energy Price Performance

Shares of Innergex Renewable Energy stock opened at C$10.67 on Thursday. The firm has a market capitalization of C$2.17 billion, a PE ratio of -16.67, a price-to-earnings-growth ratio of 20.61 and a beta of 0.34. The company has a current ratio of 0.74, a quick ratio of 0.58 and a debt-to-equity ratio of 546.12. Innergex Renewable Energy has a 12 month low of C$7.05 and a 12 month high of C$14.40. The business’s 50-day moving average price is C$8.53 and its 200-day moving average price is C$8.66.

Innergex Renewable Energy (TSE:INEGet Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The company reported C($0.11) EPS for the quarter, meeting analysts’ consensus estimates of C($0.11). The business had revenue of C$242.54 million for the quarter, compared to analysts’ expectations of C$240.80 million. Innergex Renewable Energy had a negative net margin of 11.78% and a negative return on equity of 10.13%. Sell-side analysts forecast that Innergex Renewable Energy will post 0.0799919 EPS for the current fiscal year.

Innergex Renewable Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 3.37%. The ex-dividend date is Friday, June 28th. Innergex Renewable Energy’s dividend payout ratio is currently -56.25%.

Insider Buying and Selling

In other news, Director Daniel Lafrance bought 5,000 shares of Innergex Renewable Energy stock in a transaction on Wednesday, March 13th. The shares were purchased at an average price of C$8.35 per share, for a total transaction of C$41,750.00. 20.44% of the stock is owned by insiders.

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 renewable power-generating and energy storage facilities primarily in hydroelectric, wind, and solar power sectors. The company operates through three segments: Hydroelectric Power Generation, Wind Power Generation, and Solar Power Generation.

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Analyst Recommendations for Innergex Renewable Energy (TSE:INE)

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