Innergex Renewable Energy Inc. (TSE:INE) Receives Average Recommendation of “Hold” from Brokerages

Shares of Innergex Renewable Energy Inc. (TSE:INE) have earned a consensus rating of “Hold” from the eight analysts that are covering the company, Marketbeat reports. Seven analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is C$11.59.

Several research analysts have commented on the stock. Scotiabank decreased their price objective on shares of Innergex Renewable Energy from C$11.50 to C$10.50 in a report on Thursday, January 30th. Raymond James downgraded shares of Innergex Renewable Energy from an “outperform” rating to a “market perform” rating and increased their price target for the stock from C$11.50 to C$13.75 in a research note on Wednesday, February 26th. National Bankshares lowered shares of Innergex Renewable Energy from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from C$16.00 to C$13.75 in a report on Wednesday, February 26th. Desjardins downgraded Innergex Renewable Energy from a “buy” rating to a “tender” rating and reduced their target price for the stock from C$14.50 to C$13.75 in a report on Wednesday, February 26th. Finally, TD Securities increased their target price on 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.

Innergex Renewable Energy Price Performance

Shares of Innergex Renewable Energy stock opened at C$13.54 on Tuesday. The business has a 50 day moving average of C$9.39 and a 200 day moving average of C$9.21. Innergex Renewable Energy has a 52 week low of C$6.98 and a 52 week high of C$13.60. The company has a market cap of C$2.78 billion, a PE ratio of -21.72, a P/E/G ratio of 20.61 and a beta of 0.36. The company has a quick ratio of 0.58, a current ratio of 0.56 and a debt-to-equity ratio of 620.44.

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.