Innergex Renewable Energy (OTCMKTS:INGXF) Reaches New 52-Week High – Here’s Why

Innergex Renewable Energy Inc. (OTCMKTS:INGXF)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $9.47 and last traded at $9.46, with a volume of 1619 shares traded. The stock had previously closed at $9.39.

Wall Street Analyst Weigh In

INGXF has been the subject of a number of research analyst reports. National Bank Financial lowered shares of Innergex Renewable Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Raymond James lowered shares of Innergex Renewable Energy from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, February 25th.

Innergex Renewable Energy Trading Up 0.8 %

The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 4.50. The firm’s 50 day simple moving average is $6.47 and its two-hundred day simple moving average is $6.52. The stock has a market cap of $1.92 billion, a P/E ratio of 315.33 and a beta of 0.56.

Innergex Renewable Energy (OTCMKTS:INGXF) last released its earnings results on Thursday, February 20th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.22. Innergex Renewable Energy had a net margin of 1.84% and a return on equity of 4.40%. The firm had revenue of $204.46 million during the quarter, compared to analyst estimates of $266.84 million. As a group, equities research analysts predict that Innergex Renewable Energy Inc. will post 0.09 earnings per share for the current fiscal year.

Innergex Renewable Energy Cuts Dividend

The company also recently declared a dividend, which was paid on Wednesday, January 15th. Stockholders of record on Wednesday, January 1st were given a dividend of $0.0649 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a dividend yield of 4.6%. Innergex Renewable Energy’s dividend payout ratio is currently 800.00%.

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.