Brokerages Set Innergex Renewable Energy Inc. (TSE:INE) PT at C$12.56

Innergex Renewable Energy Inc. (TSE:INE) has been assigned an average recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is C$12.56.

INE has been the topic of several research reports. Scotiabank lifted their target price 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. CIBC lifted their price objective on Innergex Renewable Energy from C$11.00 to C$11.50 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Cormark downgraded Innergex Renewable Energy from a “moderate buy” rating to a “hold” rating in a research report on Friday, August 9th. Desjardins boosted their price target on shares of Innergex Renewable Energy from C$13.00 to C$14.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Finally, BMO Capital Markets upped their price target on shares of Innergex Renewable Energy from C$11.00 to C$11.50 in a research note on Thursday, September 5th.

Innergex Renewable Energy Trading Down 0.3 %

Shares of INE opened at C$9.81 on Tuesday. The firm has a market cap of C$1.99 billion, a P/E ratio of -15.09, a price-to-earnings-growth ratio of 20.61 and a beta of 0.34. The company has a debt-to-equity ratio of 428.86, a current ratio of 0.57 and a quick ratio of 0.58. Innergex Renewable Energy has a 1 year low of C$7.05 and a 1 year high of C$12.35. The company has a 50 day simple moving average of C$9.62 and a two-hundred day simple moving average of C$9.18.

Innergex Renewable Energy (TSE:INE) last posted its earnings results on Wednesday, August 7th. The company reported C($0.03) earnings per share for the quarter, missing the consensus estimate of C($0.02) by C($0.01). The company had revenue of C$239.51 million for the quarter, compared to analysts’ expectations of C$256.60 million. Innergex Renewable Energy had a negative net margin of 11.96% and a negative return on equity of 9.27%.

Innergex Renewable Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 15th will be given a $0.09 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a yield of 3.67%. Innergex Renewable Energy’s dividend payout ratio is presently -55.38%.

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.