Innergex Renewable Energy Inc. (TSE:INE) Receives C$12.56 Consensus Target Price from Brokerages

Innergex Renewable Energy Inc. (TSE:INE) has received an average recommendation of “Moderate Buy” from the ten ratings firms that are covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is C$12.56.

Several brokerages recently issued reports on INE. TD Securities lowered shares of Innergex Renewable Energy from a “buy” rating to a “hold” rating and set a C$10.00 target price for the company. in a research report on Friday, July 26th. 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 note on Monday, July 22nd. Cibc World Mkts upgraded Innergex Renewable Energy to a “hold” rating in a research report on Monday, July 22nd. Cormark cut Innergex Renewable Energy from a “moderate buy” rating to a “hold” rating in a research report on Friday, August 9th. Finally, BMO Capital Markets lifted their price objective on Innergex Renewable Energy from C$11.00 to C$11.50 in a research report on Thursday, September 5th.

Innergex Renewable Energy Stock Performance

Shares of INE opened at C$10.13 on Friday. The firm has a market capitalization of C$2.05 billion, a P/E ratio of -15.58, a PEG ratio of 20.61 and a beta of 0.36. The company has a debt-to-equity ratio of 428.86, a current ratio of 0.57 and a quick ratio of 0.58. Innergex Renewable Energy has a one year low of C$7.05 and a one year high of C$10.96. The business has a fifty day moving average of C$9.64 and a 200 day moving average of C$9.41.

Innergex Renewable Energy (TSE:INE) last released its quarterly earnings results on Wednesday, August 7th. The company reported C($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C($0.02) by C($0.01). Innergex Renewable Energy had a negative net margin of 11.96% and a negative return on equity of 9.27%. The firm had revenue of C$239.51 million for the quarter, compared to the consensus estimate of C$256.60 million. As a group, sell-side analysts anticipate that Innergex Renewable Energy will post 0.1549878 EPS for the current year.

Innergex Renewable Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 15th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 3.55%. The ex-dividend date was Friday, September 27th. Innergex Renewable Energy’s dividend payout ratio (DPR) is presently -55.38%.

Innergex Renewable Energy Company Profile

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.