Brokerages Set Innergex Renewable Energy Inc. (TSE:INE) Price Target at C$11.59

Shares of Innergex Renewable Energy Inc. (TSE:INE) have received a consensus recommendation of “Hold” from the eight brokerages that are covering the stock, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is C$11.59.

A number of research firms have recently commented on INE. Raymond James cut Innergex Renewable Energy from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from C$11.50 to C$13.75 in a report on Wednesday, February 26th. Desjardins cut Innergex Renewable Energy from a “buy” rating to a “tender” rating and lowered their price target for the stock from C$14.50 to C$13.75 in a report on Wednesday, February 26th. TD Securities boosted their price target on Innergex Renewable Energy from C$8.00 to C$9.00 and gave the stock a “hold” rating in a report on Friday, February 21st. National Bankshares cut Innergex Renewable Energy from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from C$16.00 to C$13.75 in a report on Wednesday, February 26th. Finally, 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.

Innergex Renewable Energy Price Performance

Innergex Renewable Energy stock opened at C$13.50 on Tuesday. The company has a debt-to-equity ratio of 620.44, a quick ratio of 0.58 and a current ratio of 0.56. Innergex Renewable Energy has a 52 week low of C$6.98 and a 52 week high of C$13.60. The stock has a market capitalization of C$2.77 billion, a P/E ratio of -21.65, a price-to-earnings-growth ratio of 20.61 and a beta of 0.36. The stock has a fifty day moving average of C$9.28 and a 200-day moving average of C$9.18.

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.