Innergex Renewable Energy Inc. (TSE:INE) Receives C$12.25 Consensus Price Target from Brokerages

Shares of Innergex Renewable Energy Inc. (TSE:INE) have been assigned an average recommendation of “Moderate Buy” from the nine brokerages that are presently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is C$12.25.

Several equities analysts have weighed in on INE shares. Desjardins raised their price objective on Innergex Renewable Energy from C$13.00 to C$14.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. TD Securities cut shares of Innergex Renewable Energy from a “buy” rating to a “hold” rating and set a C$10.00 price target on the stock. in a report on Friday, July 26th. Cibc World Mkts upgraded shares of Innergex Renewable Energy to a “hold” rating in a research note on Monday, July 22nd. National Bankshares boosted their target price on Innergex Renewable Energy from C$16.00 to C$17.00 and gave the stock an “outperform” rating in a research note on Thursday, July 4th. Finally, CIBC increased their price target on Innergex Renewable Energy from C$11.00 to C$11.50 and gave the company a “neutral” rating in a research report on Monday, July 22nd.

Innergex Renewable Energy Stock Down 0.2 %

Innergex Renewable Energy stock opened at C$9.40 on Monday. The firm has a market capitalization of C$1.91 billion, a price-to-earnings ratio of -14.69, a price-to-earnings-growth ratio of 20.61 and a beta of 0.34. The firm’s fifty day moving average price is C$10.14 and its two-hundred day moving average price is C$8.95. Innergex Renewable Energy has a 1-year low of C$7.05 and a 1-year high of C$13.34. The company has a current ratio of 0.74, a quick ratio of 0.58 and a debt-to-equity ratio of 546.12.

Innergex Renewable Energy (TSE:INE) last issued its quarterly earnings data on Wednesday, May 8th. The company reported C($0.11) EPS for the quarter, hitting the consensus estimate of C($0.11). The firm had revenue of C$242.54 million during the quarter, compared to the consensus estimate of C$240.80 million. Innergex Renewable Energy had a negative return on equity of 10.13% and a negative net margin of 11.78%. On average, equities research analysts predict that Innergex Renewable Energy will post 0.0799919 earnings per share for the current fiscal year.

Innergex Renewable Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 15th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 3.83%. The ex-dividend date of this dividend was Friday, June 28th. Innergex Renewable Energy’s dividend payout ratio (DPR) is -56.25%.

Insider Buying and Selling at Innergex Renewable Energy

In other news, Director Patrick Loulou purchased 11,000 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was bought at an average price of C$10.25 per share, for a total transaction of C$112,750.00. Corporate insiders own 20.44% of the company’s stock.

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.