Innergex Renewable Energy (OTCMKTS:INGXF) Shares Pass Above 50 Day Moving Average – Time to Sell?

Innergex Renewable Energy Inc. (OTCMKTS:INGXF)’s stock price passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $7.32 and traded as high as $9.47. Innergex Renewable Energy shares last traded at $9.40, with a volume of 4,209 shares trading hands.

Analyst Ratings Changes

INGXF has been the subject of a number of research reports. National Bank Financial lowered Innergex Renewable Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Raymond James downgraded shares of Innergex Renewable Energy from a “moderate buy” rating to a “hold” rating in a report on Tuesday, February 25th.

Innergex Renewable Energy Trading Down 0.2 %

The company has a debt-to-equity ratio of 4.50, a quick ratio of 0.56 and a current ratio of 0.56. The business’s 50-day moving average price is $7.40 and its 200 day moving average price is $6.75. The company has a market cap of $1.91 billion, a P/E ratio of 314.00 and a beta of 0.56.

Innergex Renewable Energy (OTCMKTS:INGXF) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.22. The business had revenue of $204.46 million for the quarter, compared to the consensus estimate of $266.84 million. Innergex Renewable Energy had a net margin of 1.84% and a return on equity of 4.40%. As a group, analysts expect that Innergex Renewable Energy Inc. will post 0.09 earnings per share for the current year.

Innergex Renewable Energy Cuts Dividend

The firm also recently declared a dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.0624 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a dividend yield of 2.64%. Innergex Renewable Energy’s dividend payout ratio (DPR) is currently 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.