Innergex Renewable Energy (INE) to Release Earnings on Wednesday

Innergex Renewable Energy (TSE:INE) is scheduled to be posting its quarterly earnings results after the market closes on Wednesday, May 8th. Analysts expect Innergex Renewable Energy to post earnings of C($0.02) per share for the quarter.

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. Innergex Renewable Energy had a negative net margin of 9.45% and a negative return on equity of 7.86%. The firm had revenue of C$261.53 million for the quarter, compared to analyst estimates of C$264.85 million.

Innergex Renewable Energy Stock Up 2.8 %

Shares of TSE INE opened at C$8.72 on Tuesday. Innergex Renewable Energy has a 1 year low of C$7.05 and a 1 year high of C$14.40. The firm’s 50 day moving average price is C$8.16 and its 200 day moving average price is C$8.68. The firm has a market cap of C$1.78 billion, a P/E ratio of -17.10, a price-to-earnings-growth ratio of 20.61 and a beta of 0.35. The company has a debt-to-equity ratio of 544.43, a quick ratio of 0.58 and a current ratio of 0.92.

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 given a dividend of $0.09 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.36 dividend on an annualized basis and a yield of 4.13%. Innergex Renewable Energy’s dividend payout ratio (DPR) is currently -70.59%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on INE. CIBC raised their target price on shares of Innergex Renewable Energy from C$9.00 to C$9.50 and gave the stock a “neutral” rating in a research report on Friday, February 23rd. National Bankshares increased their price target on shares of Innergex Renewable Energy from C$15.75 to C$17.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 9th. Desjardins cut their price target on shares of Innergex Renewable Energy from C$14.00 to C$13.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. TD Securities cut their price target on shares of Innergex Renewable Energy from C$12.00 to C$10.00 and set a “buy” rating on the stock in a research note on Wednesday, February 14th. Finally, BMO Capital Markets cut their price target on shares of Innergex Renewable Energy from C$10.00 to C$9.00 and set an “outperform” rating on the stock in a research note on Thursday, February 22nd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Innergex Renewable Energy has an average rating of “Moderate Buy” and an average price target of C$12.47.

Insider Activity

In other Innergex Renewable Energy news, Senior Officer Jean Trudel bought 13,000 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were acquired at an average price of C$7.68 per share, with a total value of C$99,840.00. In other Innergex Renewable Energy news, Senior Officer Jean Trudel bought 13,000 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were acquired at an average price of C$7.68 per share, with a total value of C$99,840.00. Also, Director Daniel Lafrance purchased 5,000 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were purchased at an average cost of C$8.35 per share, with a total value of C$41,750.00. In the last 90 days, insiders have acquired 22,125 shares of company stock valued at $174,975. Company insiders own 20.41% of the company’s stock.

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.