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

Innergex Renewable Energy Inc. (OTCMKTS:INGXF)’s stock price reached a new 52-week high on Thursday . The company traded as high as $9.61 and last traded at $9.59, with a volume of 2125 shares changing hands. The stock had previously closed at $9.42.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on INGXF. National Bank Financial lowered Innergex Renewable Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Raymond James lowered Innergex Renewable Energy from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, February 25th.

Innergex Renewable Energy Trading Down 1.5 %

The firm has a market cap of $1.92 billion, a P/E ratio of 315.00 and a beta of 0.56. The business’s 50 day moving average is $7.65 and its 200-day moving average is $6.80. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 4.50.

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, topping the consensus estimate of ($0.01) by $0.22. The company had revenue of $204.46 million during the quarter, compared to the consensus estimate of $266.84 million. Innergex Renewable Energy had a net margin of 1.84% and a return on equity of 4.40%. As a group, analysts forecast 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 will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued a $0.0624 dividend. The ex-dividend date is Monday, March 31st. This represents a dividend yield of 2.64%. Innergex Renewable Energy’s dividend payout ratio (DPR) is 800.00%.

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.