Innergex Renewable Energy Inc. (TSE:INE) Receives C$11.59 Consensus PT from Brokerages

Innergex Renewable Energy Inc. (TSE:INE) has been assigned a consensus recommendation of “Hold” from the eight research firms that are covering the company, Marketbeat reports. Seven research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is C$11.59.

INE has been the subject of a number of recent research reports. Desjardins downgraded Innergex Renewable Energy from a “buy” rating to a “tender” rating and dropped their target price for the stock from C$14.50 to C$13.75 in a research report on Wednesday, February 26th. Raymond James downgraded shares of Innergex Renewable Energy from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from C$11.50 to C$13.75 in a research note on Wednesday, February 26th. Cormark cut their price objective on shares of Innergex Renewable Energy from C$10.00 to C$9.50 in a research note on Thursday, January 30th. TD Securities lifted their target price on shares of Innergex Renewable Energy from C$8.00 to C$9.00 and gave the stock a “hold” rating in a research report on Friday, February 21st. Finally, Scotiabank lowered their price target on shares of Innergex Renewable Energy from C$11.50 to C$10.50 in a research note on Thursday, January 30th.

Innergex Renewable Energy Trading Up 0.3 %

Shares of INE stock opened at C$13.54 on Tuesday. The business has a 50-day moving average price of C$9.39 and a two-hundred day moving average price of C$9.21. Innergex Renewable Energy has a 12-month low of C$6.98 and a 12-month high of C$13.60. The company has a quick ratio of 0.58, a current ratio of 0.56 and a debt-to-equity ratio of 620.44. The firm has a market cap of C$2.78 billion, a P/E ratio of -21.72, a price-to-earnings-growth ratio of 20.61 and a beta of 0.36.

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.