Innergex Renewable Energy (OTCMKTS:INGXF) Stock Price Crosses Above Fifty Day Moving Average – Time to Sell?

Innergex Renewable Energy Inc. (OTCMKTS:INGXF) shares crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $5.94 and traded as high as $9.46. Innergex Renewable Energy shares last traded at $9.41, with a volume of 274,837 shares changing hands.

Analysts Set New Price Targets

Several research analysts have commented on INGXF shares. National Bank Financial downgraded shares of Innergex Renewable Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 25th. Raymond James downgraded shares of Innergex Renewable Energy from a “moderate buy” rating to a “hold” rating in a report on Tuesday, February 25th.

Innergex Renewable Energy Price Performance

The firm’s fifty day simple moving average is $6.09 and its 200 day simple moving average is $6.44. The company has a debt-to-equity ratio of 4.50, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a market cap of $1.91 billion, a P/E ratio of 313.00 and a beta of 0.56.

Innergex Renewable Energy (OTCMKTS:INGXF) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $266.84 million. As a group, analysts forecast that Innergex Renewable Energy Inc. will post 0.09 earnings per share for the current year.

Innergex Renewable Energy Cuts Dividend

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