Scotiabank Has Lowered Expectations for Innergex Renewable Energy (TSE:INE) Stock Price

Innergex Renewable Energy (TSE:INE) had its target price decreased by Scotiabank from C$11.50 to C$10.50 in a research report report published on Thursday,BayStreet.CA reports.

Separately, CIBC reduced their price objective on shares of Innergex Renewable Energy from C$11.50 to C$11.00 in a research report on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Innergex Renewable Energy has an average rating of “Moderate Buy” and an average price target of C$11.94.

Innergex Renewable Energy Stock Up 2.0 %

Shares of Innergex Renewable Energy stock opened at C$7.28 on Thursday. Innergex Renewable Energy has a twelve month low of C$7.05 and a twelve month high of C$10.96. The stock has a market capitalization of C$1.48 billion, a price-to-earnings ratio of -11.20, a PEG ratio of 20.61 and a beta of 0.36. The company has a current ratio of 0.57, a quick ratio of 0.58 and a debt-to-equity ratio of 428.86. The business’s 50 day simple moving average is C$8.13 and its 200-day simple moving average is C$9.08.

Innergex Renewable Energy (TSE:INE) last posted its earnings results on Wednesday, November 6th. The company reported C$0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.03 by C$0.02. Innergex Renewable Energy had a negative return on equity of 9.27% and a negative net margin of 11.96%. During the same period in the previous year, the business earned $0.03 EPS. Equities research analysts forecast that Innergex Renewable Energy will post 0.1549878 earnings per share for the current year.

Innergex Renewable Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.09 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 4.95%. Innergex Renewable Energy’s payout ratio is currently -55.38%.

About Innergex Renewable Energy

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.