Daniel Lafrance Buys 1,000 Shares of Innergex Renewable Energy Inc. (TSE:INE) Stock

Innergex Renewable Energy Inc. (TSE:INE) Director Daniel Lafrance acquired 1,000 shares of the firm’s stock in a transaction on Thursday, November 25th. The shares were bought at an average cost of C$19.21 per share, for a total transaction of C$19,210.00. Following the acquisition, the director now owns 38,000 shares in the company, valued at C$729,980.

Shares of TSE:INE traded up C$0.04 during mid-day trading on Thursday, reaching C$19.22. The stock had a trading volume of 207,706 shares, compared to its average volume of 702,557. The firm has a market cap of C$3.71 billion and a PE ratio of -18.50. The firm has a 50 day simple moving average of C$20.36 and a two-hundred day simple moving average of C$20.62. The company has a current ratio of 0.55, a quick ratio of 0.43 and a debt-to-equity ratio of 407.83. Innergex Renewable Energy Inc. has a twelve month low of C$18.37 and a twelve month high of C$32.48.

Innergex Renewable Energy (TSE:INE) last announced its quarterly earnings results on Tuesday, November 9th. The company reported C$0.05 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.13 by C($0.08). The company had revenue of C$184.56 million for the quarter, compared to analyst estimates of C$178.70 million. On average, equities analysts anticipate that Innergex Renewable Energy Inc. will post 0.31 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, October 15th. Shareholders of record on Friday, October 15th were issued a dividend of $0.18 per share. The ex-dividend date was Tuesday, September 28th. This represents a $0.72 annualized dividend and a yield of 3.75%. Innergex Renewable Energy’s dividend payout ratio (DPR) is currently -69.30%.

A number of research analysts have issued reports on the stock. Scotiabank upped their target price on shares of Innergex Renewable Energy from C$23.50 to C$26.50 in a research report on Tuesday, September 7th. National Bank Financial restated an “outperform” rating on shares of Innergex Renewable Energy in a research report on Friday, September 17th. National Bankshares upped their target price on shares of Innergex Renewable Energy from C$27.00 to C$28.00 and gave the company an “outperform” rating in a research report on Friday, September 17th. BMO Capital Markets upped their target price on shares of Innergex Renewable Energy from C$23.00 to C$24.00 and gave the company an “outperform” rating in a research report on Tuesday, September 7th. Finally, Royal Bank of Canada cut their target price on shares of Innergex Renewable Energy from C$24.00 to C$23.00 and set a “sector perform” rating on the stock in a research report on Friday, November 12th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of C$24.98.

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 hydroelectric facilities, and wind and solar farms, as well as energy storage facilities. The company operates through three segments: Hydroelectric Generation, Wind Power Generation, and Solar Power Generation.

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