Short Interest in Innergex Renewable Energy Inc. (OTCMKTS:INGXF) Drops By 28.4%

Innergex Renewable Energy Inc. (OTCMKTS:INGXF) was the target of a large drop in short interest in February. As of February 28th, there was short interest totalling 1,590,300 shares, a drop of 28.4% from the February 13th total of 2,222,200 shares. Approximately 0.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 205,200 shares, the days-to-cover ratio is presently 7.8 days.

Analysts Set New Price Targets

Several equities analysts have weighed in on INGXF shares. National Bank Financial cut Innergex Renewable Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 25th. Raymond James cut Innergex Renewable Energy from a “moderate buy” rating to a “hold” rating in a report on Tuesday, February 25th.

Innergex Renewable Energy Trading Up 0.4 %

Shares of Innergex Renewable Energy stock traded up $0.04 on Friday, reaching $9.39. The company had a trading volume of 486 shares, compared to its average volume of 82,338. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of 312.83 and a beta of 0.56. The company has a debt-to-equity ratio of 4.50, a current ratio of 0.56 and a quick ratio of 0.56. The firm’s 50-day moving average price is $6.47 and its two-hundred day moving average price is $6.52. Innergex Renewable Energy has a 1 year low of $4.81 and a 1 year high of $9.46.

Innergex Renewable Energy (OTCMKTS:INGXF) last announced its earnings results on Thursday, February 20th. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.22. The firm had revenue of $204.46 million during the quarter, compared to analysts’ expectations of $266.84 million. Innergex Renewable Energy had a return on equity of 4.40% and a net margin of 1.84%. As a group, research analysts predict that Innergex Renewable Energy will post 0.09 earnings per share for the current fiscal year.

Innergex Renewable Energy Cuts Dividend

The business also recently announced a dividend, which was paid on Wednesday, January 15th. Stockholders of record on Wednesday, January 1st were issued a $0.0649 dividend. This represents a dividend yield of 4.6%. The ex-dividend date of this dividend was Tuesday, December 31st. Innergex Renewable Energy’s dividend payout ratio (DPR) is 800.00%.

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.