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

Shares of Innergex Renewable Energy Inc. (TSE:INE) have been given a consensus rating of “Moderate Buy” by the ten brokerages that are presently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is C$12.56.

INE has been the topic of a number of recent research reports. Cibc World Mkts raised Innergex Renewable Energy to a “hold” rating in a research report on Monday, July 22nd. TD Securities lowered Innergex Renewable Energy from a “buy” rating to a “hold” rating and set a C$10.00 target price on the stock. in a research report on Friday, July 26th. CIBC lifted their target price on Innergex Renewable Energy from C$11.00 to C$11.50 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Cormark lowered Innergex Renewable Energy from a “moderate buy” rating to a “hold” rating in a research report on Friday, August 9th. Finally, BMO Capital Markets boosted their price target on Innergex Renewable Energy from C$11.00 to C$11.50 in a research report on Thursday, September 5th.

Innergex Renewable Energy Price Performance

Shares of TSE INE opened at C$9.17 on Wednesday. The company has a current ratio of 0.57, a quick ratio of 0.58 and a debt-to-equity ratio of 428.86. The firm has a market cap of C$1.86 billion, a PE ratio of -14.11, a PEG ratio of 20.61 and a beta of 0.36. Innergex Renewable Energy has a 1-year low of C$7.05 and a 1-year high of C$10.96. The company has a fifty day moving average price of C$9.64 and a 200 day moving average price of C$9.54.

Innergex Renewable Energy (TSE:INE) last announced its earnings results on Wednesday, August 7th. The company reported C($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C($0.02) by C($0.01). Innergex Renewable Energy had a negative net margin of 11.96% and a negative return on equity of 9.27%. The firm had revenue of C$239.51 million during the quarter, compared to analyst estimates of C$256.60 million. Research analysts predict that Innergex Renewable Energy will post 0.1549878 earnings per share for the current fiscal year.

Innergex Renewable Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 15th were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.36 annualized dividend and a dividend yield of 3.93%. Innergex Renewable Energy’s dividend payout ratio is currently -55.38%.

Innergex Renewable Energy Company Profile

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.