Innergex Renewable Energy (OTCMKTS:INGXF) Stock Passes Above 50-Day Moving Average – What’s Next?

Shares of Innergex Renewable Energy Inc. (OTCMKTS:INGXF) crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $8.66 and traded as high as $9.72. Innergex Renewable Energy shares last traded at $9.72, with a volume of 7,604 shares trading hands.

Analyst Upgrades and Downgrades

INGXF has been the topic of a number of recent research reports. National Bank Financial lowered shares of Innergex Renewable Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 25th. Raymond James downgraded Innergex Renewable Energy from a “moderate buy” rating to a “hold” rating in a report on Tuesday, February 25th.

Innergex Renewable Energy Stock Performance

The stock has a 50 day moving average of $8.66 and a 200 day moving average of $6.97. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of 324.00 and a beta of 0.55. 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 issued its quarterly earnings results on Thursday, February 20th. The company reported $0.21 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $266.84 million. As a group, analysts predict that Innergex Renewable Energy Inc. will post 0.09 EPS for the current year.

Innergex Renewable Energy Cuts Dividend

The company also recently declared a dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were given a dividend of $0.0624 per share. The ex-dividend date was Monday, March 31st. This represents a yield of 2.64%. Innergex Renewable Energy’s dividend payout ratio (DPR) is currently 833.33%.

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.