Innergex Renewable Energy (TSE:INE) Price Target Raised to C$11.50 at BMO Capital Markets

Innergex Renewable Energy (TSE:INE) had its price objective lifted by BMO Capital Markets from C$11.00 to C$11.50 in a research note released on Thursday morning, BayStreet.CA reports.

Several other equities analysts also recently weighed in on INE. Desjardins lifted their target price on Innergex Renewable Energy from C$13.00 to C$14.00 and gave the company a buy rating in a research report on Thursday, June 6th. TD Securities cut shares of Innergex Renewable Energy from a buy rating to a hold rating and set a C$10.00 price objective for the company. in a report on Friday, July 26th. Scotiabank increased their target price on shares of 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. Cibc World Mkts raised shares of Innergex Renewable Energy to a hold rating in a research report on Monday, July 22nd. Finally, CIBC upped 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 report on Monday, July 22nd. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of C$12.56.

Innergex Renewable Energy Stock Performance

TSE:INE opened at C$9.03 on Thursday. Innergex Renewable Energy has a fifty-two week low of C$7.05 and a fifty-two week high of C$12.77. The company has a debt-to-equity ratio of 428.86, a quick ratio of 0.58 and a current ratio of 0.57. The company has a 50 day moving average price of C$9.71 and a 200 day moving average price of C$9.10. The stock has a market capitalization of C$1.83 billion, a P/E ratio of -13.89, a PEG ratio of 20.61 and a beta of 0.34.

Innergex Renewable Energy (TSE:INE) last released its quarterly earnings results on Wednesday, August 7th. The company reported C($0.03) EPS for the quarter, missing the consensus estimate of C($0.02) by C($0.01). Innergex Renewable Energy had a negative return on equity of 9.27% and a negative net margin of 11.96%. The firm had revenue of C$239.51 million for the quarter, compared to analysts’ expectations of C$256.60 million. Equities research analysts forecast that Innergex Renewable Energy will post 0.0799919 EPS for the current year.

Innergex Renewable Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $0.09 dividend. The ex-dividend date is Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.99%. Innergex Renewable Energy’s payout ratio is -55.38%.

Insider Transactions at Innergex Renewable Energy

In other Innergex Renewable Energy news, Director Patrick Loulou acquired 11,000 shares of the stock in a transaction dated Thursday, June 20th. The stock was acquired at an average cost of C$10.25 per share, with a total value of C$112,750.00. Corporate insiders own 20.45% of the company’s stock.

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.