Innergex Renewable Energy Inc. (TSE:INE) Receives C$11.59 Consensus PT from Analysts

Innergex Renewable Energy Inc. (TSE:INE) has received a consensus recommendation of “Hold” from the eight analysts that are currently covering the company, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is C$11.59.

A number of analysts have recently commented on INE shares. Desjardins cut Innergex Renewable Energy from a “buy” rating to a “tender” rating and cut their target price for the stock from C$14.50 to C$13.75 in a research report on Wednesday, February 26th. National Bankshares lowered Innergex Renewable Energy from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from C$16.00 to C$13.75 in a research report on Wednesday, February 26th. Raymond James downgraded Innergex Renewable Energy from an “outperform” rating to a “market perform” rating and increased their price objective for the company from C$11.50 to C$13.75 in a report on Wednesday, February 26th. TD Securities lifted their target price on shares of Innergex Renewable Energy from C$8.00 to C$9.00 and gave the company a “hold” rating in a report on Friday, February 21st. Finally, National Bank Financial cut shares of Innergex Renewable Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 25th.

Innergex Renewable Energy Trading Down 0.4 %

Shares of Innergex Renewable Energy stock opened at C$13.54 on Wednesday. The company has a fifty day simple moving average of C$13.51 and a 200-day simple moving average of C$10.16. Innergex Renewable Energy has a 12-month low of C$6.98 and a 12-month high of C$13.63. The company has a current ratio of 0.56, a quick ratio of 0.58 and a debt-to-equity ratio of 620.44. The stock has a market cap of C$2.78 billion, a price-to-earnings ratio of -21.72, a PEG ratio of 20.61 and a beta of 0.36.

Innergex Renewable Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 15th were given a $0.09 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.36 dividend on an annualized basis and a yield of 2.66%. Innergex Renewable Energy’s payout ratio is currently -57.74%.

Innergex Renewable Energy Company Profile

For over 30 years, Innergex has believed in a world where abundant renewable energy promotes healthier communities and creates shared prosperity, which led to Innergex being recognized as Canada’s best corporate citizens in 2023 by Corporate Knights. As an independent renewable power producer which develops, acquires, owns and operates hydroelectric facilities, wind farms, solar farms and energy storage facilities, Innergex is convinced that generating power from renewable sources will lead the way to a better world.