CIBC Issues Pessimistic Forecast for Innergex Renewable Energy (TSE:INE) Stock Price

Innergex Renewable Energy (TSE:INE) had its price target decreased by CIBC from C$11.50 to C$11.00 in a research report report published on Thursday morning,BayStreet.CA reports.

Several other research firms have also weighed in on INE. Cormark lowered shares of Innergex Renewable Energy from a “moderate buy” rating to a “hold” rating in a research note on Friday, August 9th. Scotiabank reduced their price objective on shares of Innergex Renewable Energy from C$12.50 to C$11.50 in a research note on Thursday. TD Securities lowered shares of Innergex Renewable Energy from a “buy” rating to a “hold” rating and set a C$10.00 price objective on the stock. in a research note on Friday, July 26th. BMO Capital Markets raised their target price on shares of Innergex Renewable Energy from C$11.00 to C$11.50 in a report on Thursday, September 5th. Finally, Cibc World Mkts upgraded shares of Innergex Renewable Energy to a “hold” rating in a report on Monday, July 22nd. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Innergex Renewable Energy presently has a consensus rating of “Moderate Buy” and an average price target of C$12.38.

Innergex Renewable Energy Stock Up 2.5 %

Innergex Renewable Energy stock opened at C$9.06 on Thursday. The company’s 50 day simple moving average is C$9.62 and its 200 day simple moving average is C$9.59. Innergex Renewable Energy has a fifty-two week low of C$7.05 and a fifty-two week high of C$10.96. The firm has a market capitalization of C$1.84 billion, a price-to-earnings ratio of -13.94, a PEG ratio of 20.61 and a beta of 0.36. 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.97%. Innergex Renewable Energy’s dividend payout ratio (DPR) is presently -55.38%.

Innergex Renewable Energy Company Profile

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.