Innergex Renewable Energy Inc. (TSE:INE) Receives C$11.94 Average Target Price from Analysts

Innergex Renewable Energy Inc. (TSE:INE) has been assigned an average rating of “Moderate Buy” from the nine research firms that are presently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is C$11.94.

Several research firms have recently issued reports on INE. Scotiabank lowered their price objective on Innergex Renewable Energy from C$11.50 to C$10.50 in a research note on Thursday, January 30th. Cormark reduced their target price on Innergex Renewable Energy from C$10.00 to C$9.50 in a research note on Thursday, January 30th. CIBC reduced their price objective on shares of Innergex Renewable Energy from C$11.50 to C$11.00 in a report on Thursday, November 7th. Finally, National Bankshares cut their target price on Innergex Renewable Energy from C$17.00 to C$16.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 11th.

Innergex Renewable Energy Trading Up 10.6 %

INE opened at C$8.52 on Friday. The company’s 50 day moving average is C$7.78 and its 200-day moving average is C$8.80. The company has a market cap of C$1.75 billion, a P/E ratio of -13.66, a PEG ratio of 20.61 and a beta of 0.36. The company has a current ratio of 0.56, a quick ratio of 0.58 and a debt-to-equity ratio of 620.44. Innergex Renewable Energy has a 1-year low of C$6.98 and a 1-year high of C$10.96.

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.