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

Innergex Renewable Energy Inc. (TSE:INE) has been assigned an average rating of “Moderate Buy” from the eight brokerages that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is C$12.06.

Several equities analysts recently issued reports on INE shares. National Bankshares increased their target price on Innergex Renewable Energy from C$15.00 to C$16.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 28th. Scotiabank increased their price target on shares of Innergex Renewable Energy from C$10.50 to C$12.50 and gave the stock an “outperform” rating in a research report on Wednesday, June 12th. Desjardins lifted their price objective on shares of Innergex Renewable Energy from C$13.00 to C$14.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Finally, CIBC upped their target price on shares of Innergex Renewable Energy from C$10.00 to C$11.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 12th.

Innergex Renewable Energy Stock Performance

Shares of INE stock opened at C$10.44 on Thursday. The company has a market capitalization of C$2.12 billion, a P/E ratio of -16.31, a P/E/G ratio of 20.61 and a beta of 0.34. The business’s 50 day moving average is C$9.48 and its two-hundred day moving average is C$8.81. The company has a current ratio of 0.74, a quick ratio of 0.58 and a debt-to-equity ratio of 546.12. Innergex Renewable Energy has a 12-month low of C$7.05 and a 12-month high of C$13.44.

Innergex Renewable Energy (TSE:INE) last released its quarterly earnings data on Wednesday, May 8th. The company reported C($0.11) EPS for the quarter, meeting analysts’ consensus estimates of C($0.11). Innergex Renewable Energy had a negative net margin of 11.78% and a negative return on equity of 10.13%. The company had revenue of C$242.54 million during the quarter, compared to the consensus estimate of C$240.80 million. Analysts expect that Innergex Renewable Energy will post 0.0799919 EPS for the current fiscal year.

Innergex Renewable Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 15th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date is Friday, June 28th. Innergex Renewable Energy’s payout ratio is currently -56.25%.

Insider Activity at Innergex Renewable Energy

In other Innergex Renewable Energy news, Director Patrick Loulou acquired 11,000 shares of the stock in a transaction dated Thursday, June 20th. The stock was acquired at an average price of C$10.25 per share, with a total value of C$112,750.00. Corporate insiders own 20.44% of the company’s stock.

About Innergex Renewable Energy

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.