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

Shares of Innergex Renewable Energy Inc. (TSE:INE) have been given a consensus recommendation of “Moderate Buy” by the nine brokerages that are presently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is C$11.94.

A number of brokerages have weighed in on INE. National Bankshares cut their price target on shares of Innergex Renewable Energy from C$17.00 to C$16.00 and set an “outperform” rating on the stock in a research note on Tuesday. Scotiabank cut their price target on shares of Innergex Renewable Energy from C$11.50 to C$10.50 in a research note on Thursday, January 30th. Cormark cut their price target on shares of Innergex Renewable Energy from C$10.00 to C$9.50 in a research note on Thursday, January 30th. Finally, CIBC cut their price target on shares of Innergex Renewable Energy from C$11.50 to C$11.00 in a research note on Thursday, November 7th.

Innergex Renewable Energy Stock Performance

Shares of INE opened at C$7.33 on Friday. The company has a debt-to-equity ratio of 620.44, a quick ratio of 0.58 and a current ratio of 0.56. Innergex Renewable Energy has a twelve month low of C$6.98 and a twelve month high of C$10.96. The firm’s 50 day moving average price is C$7.87 and its two-hundred day moving average price is C$8.87. The firm has a market cap of C$1.50 billion, a P/E ratio of -11.76, a PEG ratio of 20.61 and a beta of 0.36.

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.