Innergex Renewable Energy Inc. to Issue Quarterly Dividend of $0.09 (TSE:INE)

Innergex Renewable Energy Inc. (TSE:INE) announced a quarterly dividend on Monday, March 31st, TickerTech Dividends reports. Investors of record on Tuesday, April 15th will be paid a dividend of 0.09 per share on Tuesday, April 15th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend is Monday, March 31st.

Innergex Renewable Energy Stock Performance

INE remained flat at C$13.57 on Friday. 571,412 shares of the company were exchanged, compared to its average volume of 1,257,442. The stock has a market cap of C$2.78 billion, a P/E ratio of -21.76, a P/E/G ratio of 20.61 and a beta of 0.36. 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 50 day moving average of C$10.41 and a two-hundred day moving average of C$9.47. Innergex Renewable Energy has a 12-month low of C$6.98 and a 12-month high of C$13.63.

Analysts Set New Price Targets

Several research analysts have recently issued reports on INE shares. TD Securities increased their price objective on shares of Innergex Renewable Energy from C$8.00 to C$9.00 and gave the company a “hold” rating in a report on Friday, February 21st. Raymond James lowered Innergex Renewable Energy from an “outperform” rating to a “market perform” rating and increased their price target for the company from C$11.50 to C$13.75 in a research note on Wednesday, February 26th. Cormark dropped their price objective on Innergex Renewable Energy from C$10.00 to C$9.50 in a research note on Thursday, January 30th. National Bankshares cut Innergex Renewable Energy from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from C$16.00 to C$13.75 in a research note on Wednesday, February 26th. Finally, Desjardins lowered Innergex Renewable Energy from a “buy” rating to a “tender” rating and lowered their target price for the stock from C$14.50 to C$13.75 in a report on Wednesday, February 26th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Innergex Renewable Energy currently has a consensus rating of “Hold” and an average price target of C$11.59.

Innergex Renewable Energy Company Profile

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.