Innergex Renewable Energy (OTCMKTS:INGXF) Reaches New 12-Month High – Here’s Why

Innergex Renewable Energy Inc. (OTCMKTS:INGXF)’s stock price reached a new 52-week high on Thursday . The company traded as high as $9.62 and last traded at $9.62, with a volume of 34639 shares changing hands. The stock had previously closed at $9.59.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Raymond James cut Innergex Renewable Energy from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, February 25th. National Bank Financial lowered 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 0.7 %

The firm has a 50-day moving average of $8.28 and a two-hundred day moving average of $6.91. The firm has a market capitalization of $1.97 billion, a P/E ratio of 323.00 and a beta of 0.55. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 4.50.

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

Innergex Renewable Energy Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be issued a dividend of $0.0624 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a yield of 2.64%. Innergex Renewable Energy’s dividend payout ratio (DPR) is 833.33%.

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.