Innergex Renewable Energy Inc. (TSE:INE) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Innergex Renewable Energy Inc. (TSE:INEGet Free Report) have received a consensus rating of “Moderate Buy” from the seven ratings firms that are covering the company, reports. Two investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is C$12.53.

A number of equities research analysts have weighed in on INE shares. CIBC lifted their price target on shares of Innergex Renewable Energy from C$9.50 to C$10.00 in a research note on Friday, May 10th. Royal Bank of Canada dropped their price target on shares of Innergex Renewable Energy from C$13.00 to C$11.00 and set a “sector perform” rating for the company in a research report on Monday, February 12th. National Bankshares lifted their price objective on Innergex Renewable Energy from C$15.00 to C$16.00 and gave the company an “outperform” rating in a report on Tuesday, May 28th. Raymond James dropped their target price on Innergex Renewable Energy from C$15.00 to C$13.00 and set an “outperform” rating for the company in a report on Thursday, February 22nd. Finally, BMO Capital Markets decreased their price target on 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.

Get Our Latest Analysis on Innergex Renewable Energy

Insider Activity

In related news, Director Daniel Lafrance bought 5,000 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were purchased at an average price of C$8.35 per share, with a total value of C$41,750.00. 20.44% of the stock is currently owned by company insiders.

Innergex Renewable Energy Trading Down 0.7 %

Innergex Renewable Energy stock opened at C$10.60 on Friday. Innergex Renewable Energy has a 52 week low of C$7.05 and a 52 week high of C$14.18. The company has a debt-to-equity ratio of 546.12, a quick ratio of 0.58 and a current ratio of 0.74. The firm has a market capitalization of C$2.16 billion, a PE ratio of -16.56, a PEG ratio of 20.61 and a beta of 0.34. The business’s 50-day simple moving average is C$8.64 and its 200-day simple moving average is C$8.68.

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

Innergex Renewable Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a $0.09 dividend. The ex-dividend date is Friday, June 28th. This represents a $0.36 dividend on an annualized basis and a yield of 3.40%. Innergex Renewable Energy’s payout ratio is presently -56.25%.

Innergex Renewable Energy Company Profile

(Get Free Report

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.

Further Reading

Analyst Recommendations for Innergex Renewable Energy (TSE:INE)

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