Innergex Renewable Energy (TSE:INE) Downgraded by Desjardins to “Tender”

Desjardins downgraded shares of Innergex Renewable Energy (TSE:INE) from a buy rating to a tender rating in a research note issued to investors on Wednesday,BayStreet.CA reports. The brokerage currently has C$13.75 price target on the stock, down from their previous price target of C$14.50.

Several other analysts have also weighed in on the company. Cormark lowered their target price on Innergex Renewable Energy from C$10.00 to C$9.50 in a report on Thursday, January 30th. Raymond James decreased their price objective on Innergex Renewable Energy from C$13.00 to C$11.50 in a research note on Monday. Scotiabank decreased their price objective on Innergex Renewable Energy from C$11.50 to C$10.50 in a research note on Thursday, January 30th. National Bankshares lowered Innergex Renewable Energy from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from C$16.00 to C$13.75 in a research note on Wednesday. Finally, TD Securities increased their price objective on Innergex Renewable Energy from C$8.00 to C$9.00 and gave the company a “hold” rating in a research note on Friday, February 21st. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of C$11.59.

Innergex Renewable Energy Stock Down 0.1 %

Innergex Renewable Energy stock opened at C$13.46 on Wednesday. The company has a debt-to-equity ratio of 620.44, a quick ratio of 0.58 and a current ratio of 0.56. The firm has a market capitalization of C$2.76 billion, a price-to-earnings ratio of -21.59, a price-to-earnings-growth ratio of 20.61 and a beta of 0.36. Innergex Renewable Energy has a fifty-two week low of C$6.98 and a fifty-two week high of C$13.53. The stock’s fifty day moving average is C$8.00 and its two-hundred day moving average is C$8.84.

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.