TD Securities Issues Positive Forecast for Innergex Renewable Energy (TSE:INE) Stock Price

Innergex Renewable Energy (TSE:INE) had its price objective increased by TD Securities from C$8.00 to C$9.00 in a report issued on Friday,BayStreet.CA reports. The brokerage currently has a hold rating on the stock.

A number of other equities research analysts also recently commented on the company. CIBC dropped their price objective on Innergex Renewable Energy from C$11.50 to C$11.00 in a report on Thursday, November 7th. Scotiabank dropped their price objective on Innergex Renewable Energy from C$11.50 to C$10.50 in a report on Thursday, January 30th. Cormark dropped their price objective on Innergex Renewable Energy from C$10.00 to C$9.50 in a report on Thursday, January 30th. Finally, National Bankshares dropped their price objective on Innergex Renewable Energy from C$17.00 to C$16.00 and set an “outperform” rating for the company in a report on Tuesday, February 11th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$11.81.

Innergex Renewable Energy Trading Up 5.0 %

TSE INE opened at C$8.95 on Friday. The stock has a 50-day simple moving average of C$7.79 and a 200 day simple moving average of C$8.80. The company has a market capitalization of C$1.84 billion, a PE ratio of -14.35, a P/E/G ratio of 20.61 and a beta of 0.36. The company has a current ratio of 0.56, a quick ratio of 0.58 and a debt-to-equity ratio of 620.44. Innergex Renewable Energy has a 12 month low of C$6.98 and a 12 month high of C$10.96.

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.