Innergex Renewable Energy (TSE:INE) Rating Lowered to Sector Perform at National Bankshares

Innergex Renewable Energy (TSE:INE) was downgraded by stock analysts at National Bankshares from an “outperform” rating to a “sector perform” rating in a report issued on Wednesday,BayStreet.CA reports. They currently have a C$13.75 price target on the stock, down from their previous price target of C$16.00. National Bankshares’ price target would suggest a potential upside of 2.15% from the company’s current price.

INE has been the topic of several other reports. Raymond James dropped their target price on Innergex Renewable Energy from C$13.00 to C$11.50 in a research report on Monday. TD Securities increased their target price on Innergex Renewable Energy from C$8.00 to C$9.00 and gave the stock a “hold” rating in a research report on Friday, February 21st. CIBC dropped their target price on Innergex Renewable Energy from C$11.50 to C$11.00 in a research report on Thursday, November 7th. Scotiabank dropped their target price on Innergex Renewable Energy from C$11.50 to C$10.50 in a research report on Thursday, January 30th. Finally, Cormark dropped their target price on Innergex Renewable Energy from C$10.00 to C$9.50 in a research report on Thursday, January 30th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Innergex Renewable Energy currently has an average rating of “Hold” and a consensus price target of C$11.59.

Innergex Renewable Energy Price Performance

Shares of TSE INE opened at C$13.46 on Wednesday. Innergex Renewable Energy has a twelve month low of C$6.98 and a twelve month high of C$13.53. The company has a current ratio of 0.56, a quick ratio of 0.58 and a debt-to-equity ratio of 620.44. The company has a market capitalization of C$2.76 billion, a price-to-earnings ratio of -21.59, a price-to-earnings-growth ratio of 20.61 and a beta of 0.36. The business has a 50 day simple moving average of C$8.11 and a 200-day simple moving average of C$8.87.

Innergex Renewable Energy Company Profile

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.