Innergex Renewable Energy Inc. (INE) To Go Ex-Dividend on June 28th

Innergex Renewable Energy Inc. (TSE:INE) announced a quarterly dividend on Wednesday, May 8th, Zacks reports. Investors of record on Sunday, June 30th will be paid a dividend of 0.09 per share on Monday, July 15th. This represents a $0.36 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date of this dividend is Friday, June 28th.

Innergex Renewable Energy Stock Up 0.4 %

Innergex Renewable Energy stock traded up C$0.03 during midday trading on Friday, reaching C$8.44. The stock had a trading volume of 176,394 shares, compared to its average volume of 763,376. Innergex Renewable Energy has a 12 month low of C$7.05 and a 12 month high of C$14.40. The company has a market capitalization of C$1.73 billion, a P/E ratio of -16.49, a PEG ratio of 20.61 and a beta of 0.35. The company has a fifty day moving average price of C$8.18 and a two-hundred day moving average price of C$8.67. The company has a current ratio of 0.92, a quick ratio of 0.58 and a debt-to-equity ratio of 544.43.

Innergex Renewable Energy (TSE:INE) last issued its quarterly earnings data on Wednesday, February 21st. The company reported C($0.03) 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 analyst estimates 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%. As a group, equities analysts expect that Innergex Renewable Energy will post 0.0799919 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on INE shares. Raymond James cut their target price on Innergex Renewable Energy from C$15.00 to C$13.00 and set an “outperform” rating on the stock in a research note on Thursday, February 22nd. Desjardins cut their price objective on shares of Innergex Renewable Energy from C$14.00 to C$13.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. TD Securities reduced their price target on shares of Innergex Renewable Energy from C$12.00 to C$10.00 and set a “buy” rating for the company in a research report on Wednesday, February 14th. Royal Bank of Canada dropped their price objective on shares of Innergex Renewable Energy from C$13.00 to C$11.00 and set a “sector perform” rating for the company in a report on Monday, February 12th. Finally, BMO Capital Markets dropped their price objective on shares of Innergex Renewable Energy from C$10.00 to C$9.00 and set an “outperform” rating for the company in a report on Thursday, February 22nd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Innergex Renewable Energy has an average rating of “Moderate Buy” and an average target price of C$12.47.

Insiders Place Their Bets

In other news, Director Richard Gagnon acquired 3,125 shares of the stock in a transaction dated Wednesday, February 28th. The stock was purchased at an average cost of C$8.13 per share, with a total value of C$25,408.75. In related news, Director Daniel Lafrance purchased 5,000 shares of Innergex Renewable Energy stock in a transaction that occurred on Wednesday, March 13th. The shares were bought at an average price of C$8.35 per share, for a total transaction of C$41,750.00. Also, Director Richard Gagnon purchased 3,125 shares of Innergex Renewable Energy stock in a transaction that occurred on Wednesday, February 28th. The shares were bought at an average price of C$8.13 per share, for a total transaction of C$25,408.75. Insiders acquired 22,125 shares of company stock valued at $174,975 over the last three months. Insiders own 20.41% of the company’s stock.

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.