Innergex Renewable Energy Inc. (TSE:INE) Given Consensus Recommendation of “Hold” by Brokerages

Innergex Renewable Energy Inc. (TSE:INE) has been assigned a consensus recommendation of “Hold” from the eight analysts that are covering the company, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is C$11.59.

Several equities analysts have weighed in on INE shares. Scotiabank cut their target price on Innergex Renewable Energy from C$11.50 to C$10.50 in a report on Thursday, January 30th. National Bankshares downgraded Innergex Renewable Energy from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from C$16.00 to C$13.75 in a research report on Wednesday, February 26th. Desjardins downgraded Innergex Renewable Energy from a “buy” rating to a “tender” rating and lowered their price target for the company from C$14.50 to C$13.75 in a research report on Wednesday, February 26th. Raymond James downgraded Innergex Renewable Energy from an “outperform” rating to a “market perform” rating and raised their price target for the company from C$11.50 to C$13.75 in a research report on Wednesday, February 26th. Finally, TD Securities raised their price target on Innergex Renewable Energy from C$8.00 to C$9.00 and gave the company a “hold” rating in a research report on Friday, February 21st.

Innergex Renewable Energy Price Performance

TSE INE opened at C$13.45 on Tuesday. Innergex Renewable Energy has a fifty-two week low of C$6.98 and a fifty-two week high of C$13.60. The stock’s 50-day moving average is C$8.85 and its two-hundred day moving average is C$9.07. The company has a debt-to-equity ratio of 620.44, a current ratio of 0.56 and a quick ratio of 0.58. The firm has a market cap of C$2.76 billion, a P/E ratio of -21.57, a price-to-earnings-growth ratio of 20.61 and a beta of 0.36.

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.