Brokerages Set Innergex Renewable Energy Inc. (TSE:INE) Target Price at C$12.56

Shares of Innergex Renewable Energy Inc. (TSE:INE) have been given a consensus rating of “Moderate Buy” by the ten analysts that are currently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is C$12.56.

Several brokerages have recently weighed in on INE. TD Securities cut Innergex Renewable Energy from a “buy” rating to a “hold” rating and set a C$10.00 price objective for the company. in a report on Friday, July 26th. Scotiabank boosted their price target on Innergex Renewable Energy from C$10.50 to C$12.50 and gave the stock an “outperform” rating in a research report on Wednesday, June 12th. BMO Capital Markets increased their price objective on Innergex Renewable Energy from C$11.00 to C$11.50 in a report on Thursday, September 5th. National Bankshares boosted their target price on shares of Innergex Renewable Energy from C$16.00 to C$17.00 and gave the stock an “outperform” rating in a report on Thursday, July 4th. Finally, Cormark cut shares of Innergex Renewable Energy from a “moderate buy” rating to a “hold” rating in a research note on Friday, August 9th.

Innergex Renewable Energy Trading Up 1.8 %

TSE INE opened at C$10.20 on Tuesday. Innergex Renewable Energy has a 52 week low of C$7.05 and a 52 week high of C$12.06. The company has a debt-to-equity ratio of 428.86, a quick ratio of 0.58 and a current ratio of 0.57. The stock’s 50 day moving average price is C$9.59 and its two-hundred day moving average price is C$9.22. The stock has a market capitalization of C$2.07 billion, a price-to-earnings ratio of -15.69, a PEG ratio of 20.61 and a beta of 0.34.

Innergex Renewable Energy (TSE:INE) last announced its quarterly earnings data on Wednesday, August 7th. The company reported C($0.03) EPS for the quarter, missing analysts’ consensus estimates of C($0.02) by C($0.01). The business had revenue of C$239.51 million during the quarter, compared to the consensus estimate of C$256.60 million. Innergex Renewable Energy had a negative return on equity of 9.27% and a negative net margin of 11.96%. As a group, analysts anticipate that Innergex Renewable Energy will post 0.1533048 earnings per share for the current fiscal year.

Innergex Renewable Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 15th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a yield of 3.53%. Innergex Renewable Energy’s dividend payout ratio (DPR) is currently -55.38%.

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.