Innergex Renewable Energy Inc. (TSE:INE) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Innergex Renewable Energy Inc. (TSE:INE) have earned a consensus rating of “Moderate Buy” from the seven analysts that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is C$13.36.

A number of research analysts have recently commented on INE shares. TD Securities cut their price target on Innergex Renewable Energy from C$12.00 to C$10.00 and set a “buy” rating for the company in a report on Wednesday, February 14th. CIBC upped their price target on Innergex Renewable Energy from C$9.00 to C$9.50 and gave the stock a “neutral” rating in a report on Friday, February 23rd. Desjardins cut their price target on Innergex Renewable Energy from C$14.50 to C$14.00 and set a “buy” rating for the company in a report on Friday, February 23rd. National Bankshares upped their price target on Innergex Renewable Energy from C$15.75 to C$17.00 and gave the stock an “outperform” rating in a report on Tuesday, January 9th. Finally, Raymond James cut their price target on Innergex Renewable Energy from C$15.00 to C$13.00 and set an “outperform” rating for the company in a report on Thursday, February 22nd.

Insider Activity at Innergex Renewable Energy

In other news, Senior Officer Jean Trudel bought 13,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was acquired at an average cost of C$7.68 per share, for a total transaction of C$99,840.00. In related news, Director Daniel Lafrance purchased 5,000 shares of the stock in a transaction on Wednesday, March 13th. The shares were purchased at an average cost of C$8.35 per share, for a total transaction of C$41,750.00. Also, Senior Officer Jean Trudel purchased 13,000 shares of the stock in a transaction on Monday, February 26th. The stock was bought at an average price of C$7.68 per share, for a total transaction of C$99,840.00. Over the last ninety days, insiders bought 22,125 shares of company stock worth $174,975. 20.41% of the stock is owned by corporate insiders.

Innergex Renewable Energy Stock Down 0.5 %

Shares of Innergex Renewable Energy stock opened at C$8.02 on Friday. The stock has a market capitalization of C$1.64 billion, a P/E ratio of -15.73, a PEG ratio of 20.61 and a beta of 0.35. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 544.43. The stock has a 50 day moving average price of C$8.00 and a two-hundred day moving average price of C$8.80. Innergex Renewable Energy has a 12-month low of C$7.05 and a 12-month high of C$14.57.

Innergex Renewable Energy (TSE:INE) last announced its earnings results on Wednesday, February 21st. The company reported C($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C($0.04) by C$0.01. The firm had revenue of C$261.53 million during the quarter, compared to analysts’ expectations of C$264.85 million. Innergex Renewable Energy had a negative return on equity of 7.86% and a negative net margin of 9.45%. Equities analysts expect that Innergex Renewable Energy will post 0.0799919 earnings per share for the current year.

Innergex Renewable Energy Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 15th were paid a $0.09 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 4.49%. Innergex Renewable Energy’s payout ratio is -70.59%.

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.