Innergex Renewable Energy (TSE:INE) Given New C$9.50 Price Target at Cormark

Innergex Renewable Energy (TSE:INE) had its price objective trimmed by Cormark from C$10.00 to C$9.50 in a research report released on Thursday morning,BayStreet.CA reports.

A number of other research firms have also recently commented on INE. CIBC cut their price target on shares of Innergex Renewable Energy from C$11.50 to C$11.00 in a report on Thursday, November 7th. Scotiabank cut their price target on shares of Innergex Renewable Energy from C$11.50 to C$10.50 in a report on Thursday. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$11.94.

Innergex Renewable Energy Price Performance

Shares of INE opened at C$7.14 on Thursday. The stock has a market cap of C$1.45 billion, a PE ratio of -10.98, a price-to-earnings-growth ratio of 20.61 and a beta of 0.36. 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 has a fifty-two week low of C$7.05 and a fifty-two week high of C$10.96. The firm’s 50-day simple moving average is C$8.15 and its two-hundred day simple moving average is C$9.09.

Innergex Renewable Energy (TSE:INE) last announced its quarterly earnings data on Wednesday, November 6th. The company reported C$0.05 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.03 by C$0.02. Innergex Renewable Energy had a negative net margin of 11.96% and a negative return on equity of 9.27%. During the same period in the previous year, the firm earned $0.03 EPS. Analysts anticipate that Innergex Renewable Energy will post 0.1549878 earnings per share for the current fiscal year.

Innergex Renewable Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.09 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.36 dividend on an annualized basis and a yield of 5.04%. Innergex Renewable Energy’s dividend payout ratio is currently -55.38%.

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.