National Bankshares Boosts Innergex Renewable Energy (TSE:INE) Price Target to C$17.00

Innergex Renewable Energy (TSE:INE) had its price target raised by National Bankshares from C$16.00 to C$17.00 in a report published on Thursday, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Several other research firms also recently issued reports on INE. Scotiabank boosted their price objective on Innergex Renewable Energy from C$10.50 to C$12.50 and gave the stock an outperform rating in a report on Wednesday, June 12th. Desjardins boosted their price objective on Innergex Renewable Energy from C$13.00 to C$14.00 and gave the stock a buy rating in a report on Thursday, June 6th. Finally, CIBC boosted their price objective on Innergex Renewable Energy from C$10.00 to C$11.00 and gave the stock a neutral rating in a report on Wednesday, June 12th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of C$12.19.

Innergex Renewable Energy Price Performance

Shares of TSE INE opened at C$10.67 on Thursday. Innergex Renewable Energy has a twelve month low of C$7.05 and a twelve month high of C$13.44. The company has a current ratio of 0.74, a quick ratio of 0.58 and a debt-to-equity ratio of 546.12. The company has a market capitalization of C$2.17 billion, a price-to-earnings ratio of -16.67, a PEG ratio of 20.61 and a beta of 0.34. The firm has a 50-day moving average of C$9.53 and a two-hundred day moving average of C$8.83.

Innergex Renewable Energy (TSE:INE) last issued its quarterly earnings results on Wednesday, May 8th. The company reported C($0.11) earnings per share 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. As a group, analysts expect that Innergex Renewable Energy will post 0.0799919 earnings per share for the current fiscal year.

Innergex Renewable Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 15th will be issued a $0.09 dividend. The ex-dividend date is Friday, June 28th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.37%. Innergex Renewable Energy’s dividend payout ratio is -56.25%.

Insider Activity

In other Innergex Renewable Energy news, Director Patrick Loulou bought 11,000 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were bought at an average price of C$10.25 per share, for a total transaction of C$112,750.00. 20.44% of the stock is owned by corporate insiders.

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.