Innergex Renewable Energy (OTCMKTS:INGXF) Stock Crosses Above 50 Day Moving Average – What’s Next?

Innergex Renewable Energy Inc. (OTCMKTS:INGXF) shares passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $6.47 and traded as high as $9.39. Innergex Renewable Energy shares last traded at $9.39, with a volume of 486 shares.

Analysts Set New Price Targets

Several research firms have recently weighed in on INGXF. Raymond James downgraded shares of Innergex Renewable Energy from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, February 25th. National Bank Financial downgraded shares of Innergex Renewable Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 25th.

Innergex Renewable Energy Trading Up 0.4 %

The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 4.50. The business’s 50-day moving average is $6.47 and its two-hundred day moving average is $6.53. The firm has a market cap of $1.91 billion, a P/E ratio of 312.83 and a beta of 0.56.

Innergex Renewable Energy (OTCMKTS:INGXF) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.22. Innergex Renewable Energy had a net margin of 1.84% and a return on equity of 4.40%. The business had revenue of $204.46 million during the quarter, compared to the consensus estimate of $266.84 million. As a group, analysts expect that Innergex Renewable Energy Inc. will post 0.09 earnings per share for the current fiscal year.

Innergex Renewable Energy Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, January 15th. Investors of record on Wednesday, January 1st were given a dividend of $0.0649 per share. This represents a dividend yield of 4.6%. The ex-dividend date was Tuesday, December 31st. Innergex Renewable Energy’s dividend payout ratio is presently 800.00%.

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.