Innergex Renewable Energy Inc. (INE) to Issue Quarterly Dividend of $0.09 on January 15th

Innergex Renewable Energy Inc. (TSE:INE) declared a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Stockholders of record on Tuesday, December 31st will be given a dividend of 0.09 per share on Wednesday, January 15th. This represents a $0.36 annualized dividend and a dividend yield of 4.40%. The ex-dividend date is Tuesday, December 31st.

Innergex Renewable Energy Stock Performance

INE stock opened at C$8.18 on Friday. The stock’s fifty day moving average price is C$8.79 and its 200-day moving average price is C$9.53. The company has a market cap of C$1.66 billion, a P/E ratio of -12.58, a price-to-earnings-growth ratio of 20.61 and a beta of 0.36. Innergex Renewable Energy has a 1 year low of C$7.05 and a 1 year high of C$10.96. The company has a debt-to-equity ratio of 428.86, a current ratio of 0.57 and a quick ratio of 0.58.

Analyst Ratings Changes

Several brokerages have weighed in on INE. Scotiabank lowered their price target on shares of Innergex Renewable Energy from C$12.50 to C$11.50 in a report on Thursday, November 7th. BMO Capital Markets increased their price target on Innergex Renewable Energy from C$11.00 to C$11.50 in a research note on Thursday, September 5th. Finally, CIBC reduced their price objective on Innergex Renewable Energy from C$11.50 to C$11.00 in a research note on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$12.38.

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.