Innergex Renewable Energy Inc. (TSE:INE) Receives C$12.25 Consensus Price Target from Analysts

Innergex Renewable Energy Inc. (TSE:INE) has received an average rating of “Moderate Buy” from the ten analysts that are currently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is C$12.25.

Several equities research analysts have commented on the company. CIBC boosted their price objective on Innergex Renewable Energy from C$11.00 to C$11.50 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Cormark downgraded shares of Innergex Renewable Energy from a “moderate buy” rating to a “hold” rating in a report on Friday, August 9th. Scotiabank boosted their target price on Innergex Renewable Energy from C$10.50 to C$12.50 and gave the stock an “outperform” rating in a report on Wednesday, June 12th. Desjardins increased their price target on Innergex Renewable Energy from C$13.00 to C$14.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Finally, Cibc World Mkts raised Innergex Renewable Energy to a “hold” rating in a research note on Monday, July 22nd.

Insider Activity at Innergex Renewable Energy

In related news, Director Patrick Loulou bought 11,000 shares of the stock in a transaction on Thursday, June 20th. The stock was bought at an average price of C$10.25 per share, with a total value of C$112,750.00. 20.45% of the stock is owned by insiders.

Innergex Renewable Energy Stock Performance

TSE:INE opened at C$9.24 on Friday. The company has a fifty day moving average of C$9.86 and a two-hundred day moving average of C$9.02. Innergex Renewable Energy has a fifty-two week low of C$7.05 and a fifty-two week high of C$13.32. The stock has a market capitalization of C$1.87 billion, a PE ratio of -14.22, a P/E/G ratio of 20.61 and a beta of 0.34. The company has a debt-to-equity ratio of 428.86, a quick ratio of 0.58 and a current ratio of 0.57.

Innergex Renewable Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date of this dividend is Friday, September 27th. Innergex Renewable Energy’s dividend payout ratio is presently -55.38%.

About Innergex Renewable Energy

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.