Analysts Set Innergex Renewable Energy Inc. (TSE:INE) Target Price at C$12.56

Innergex Renewable Energy Inc. (TSE:INE) has earned an average rating of “Moderate Buy” from the ten ratings firms that are currently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is C$12.56.

A number of analysts recently commented on INE shares. Cibc World Mkts raised shares of Innergex Renewable Energy to a “hold” rating in a report on Monday, July 22nd. CIBC boosted their price target on Innergex Renewable Energy from C$11.00 to C$11.50 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. TD Securities cut Innergex Renewable Energy from a “buy” rating to a “hold” rating and set a C$10.00 price target on the stock. in a report on Friday, July 26th. BMO Capital Markets lifted their price objective on Innergex Renewable Energy from C$11.00 to C$11.50 in a report on Thursday, September 5th. Finally, National Bankshares upped their target price on Innergex Renewable Energy from C$16.00 to C$17.00 and gave the company an “outperform” rating in a report on Thursday, July 4th.

Innergex Renewable Energy Stock Up 0.8 %

INE opened at C$9.96 on Friday. The business has a 50 day simple moving average of C$9.66 and a 200-day simple moving average of C$9.43. Innergex Renewable Energy has a 12 month low of C$7.05 and a 12 month high of C$10.96. The stock has a market capitalization of C$2.02 billion, a P/E ratio of -15.32, a P/E/G ratio of 20.61 and a beta of 0.36. The company has a debt-to-equity ratio of 428.86, a current ratio of 0.57 and a quick ratio of 0.58.

Innergex Renewable Energy (TSE:INE) last released its earnings results on Wednesday, August 7th. The company reported C($0.03) EPS for the quarter, missing analysts’ consensus estimates of C($0.02) by C($0.01). The business had revenue of C$239.51 million during the quarter, compared to analyst estimates of C$256.60 million. Innergex Renewable Energy had a negative net margin of 11.96% and a negative return on equity of 9.27%. On average, equities analysts anticipate that Innergex Renewable Energy will post 0.1549878 earnings per share for the current fiscal year.

Innergex Renewable Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 15th were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date was Friday, September 27th. Innergex Renewable Energy’s payout ratio is currently -55.38%.

About Innergex Renewable Energy

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.