Innergex Renewable Energy Inc. (TSE:INE) Given Average Recommendation of “Moderate Buy” by Brokerages

Innergex Renewable Energy Inc. (TSE:INEGet Rating) has received a consensus rating of “Moderate Buy” from the ten research firms that are currently covering the stock, reports. Two investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is C$23.53.

A number of research firms have issued reports on INE. National Bankshares upped their target price on shares of Innergex Renewable Energy from C$24.00 to C$25.00 and gave the company an “outperform” rating in a report on Wednesday. Credit Suisse Group increased their target price on shares of Innergex Renewable Energy to C$27.50 in a research report on Wednesday, August 24th. CIBC increased their target price on shares of Innergex Renewable Energy from C$22.00 to C$23.00 in a research report on Friday, September 16th. TD Securities downgraded shares of Innergex Renewable Energy from a “buy” rating to a “hold” rating and increased their target price for the stock from C$19.00 to C$21.00 in a research report on Friday, August 5th. Finally, Cormark increased their price objective on shares of Innergex Renewable Energy from C$21.00 to C$23.00 in a research report on Friday, August 5th.

Innergex Renewable Energy Stock Performance

TSE:INE opened at C$18.52 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.77 and a debt-to-equity ratio of 361.27. Innergex Renewable Energy has a fifty-two week low of C$15.89 and a fifty-two week high of C$22.03. The stock has a market cap of C$3.78 billion and a PE ratio of -194.95. The firm’s fifty day simple moving average is C$19.42 and its 200-day simple moving average is C$18.58.

Innergex Renewable Energy (TSE:INEGet Rating) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported C($0.01) EPS for the quarter, missing analysts’ consensus estimates of C$0.08 by C($0.09). The company had revenue of C$219.75 million for the quarter, compared to analysts’ expectations of C$224.95 million. Analysts expect that Innergex Renewable Energy will post 0.35 earnings per share for the current fiscal year.

Innergex Renewable Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Monday, October 17th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date of this dividend is Wednesday, September 28th. Innergex Renewable Energy’s payout ratio is -757.89%.

Innergex Renewable Energy Company Profile

(Get Rating)

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 Power Generation, Wind Power Generation, and Solar Power Generation.

Further Reading

Analyst Recommendations for Innergex Renewable Energy (TSE:INE)

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