Innergex Renewable Energy Inc. (INE) to Issue Quarterly Dividend of $0.09 on April 15th

Innergex Renewable Energy Inc. (TSE:INE) announced a quarterly dividend on Monday, March 31st, TickerTech Dividends reports. Shareholders of record on Tuesday, April 15th will be paid a dividend of 0.09 per share on Tuesday, April 15th. This represents a $0.36 annualized dividend and a yield of 2.65%. The ex-dividend date is Monday, March 31st.

Innergex Renewable Energy Price Performance

Shares of INE remained flat at C$13.57 during mid-day trading on Friday. The stock had a trading volume of 571,412 shares, compared to its average volume of 1,257,442. The company has a debt-to-equity ratio of 620.44, a quick ratio of 0.58 and a current ratio of 0.56. The firm’s 50 day moving average is C$10.41 and its 200-day moving average is C$9.47. Innergex Renewable Energy has a 1 year low of C$6.98 and a 1 year high of C$13.63. The stock has a market capitalization of C$2.78 billion, a PE ratio of -21.76, a P/E/G ratio of 20.61 and a beta of 0.36.

Analyst Ratings Changes

A number of brokerages have recently issued reports on INE. Cormark cut their price target on Innergex Renewable Energy from C$10.00 to C$9.50 in a report on Thursday, January 30th. TD Securities boosted their price target on Innergex Renewable Energy from C$8.00 to C$9.00 and gave the company a “hold” rating in a research note on Friday, February 21st. National Bank Financial downgraded Innergex Renewable Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Desjardins downgraded shares of Innergex Renewable Energy from a “buy” rating to a “tender” rating and lowered their price target for the stock from C$14.50 to C$13.75 in a report on Wednesday, February 26th. Finally, Raymond James cut shares of Innergex Renewable Energy from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from C$11.50 to C$13.75 in a report on Wednesday, February 26th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of C$11.59.

About Innergex Renewable Energy

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.