Innergex Renewable Energy (TSE:INE) Price Target Increased to C$11.00 by Analysts at CIBC

Innergex Renewable Energy (TSE:INE) had its price target boosted by CIBC from C$10.00 to C$11.00 in a research report sent to investors on Wednesday, BayStreet.CA reports. They currently have a neutral rating on the stock.

INE has been the subject of a number of other research reports. Desjardins boosted their price target on shares of Innergex Renewable Energy from C$13.00 to C$14.00 and gave the company a buy rating in a research note on Thursday, June 6th. BMO Capital Markets decreased their price target on shares of Innergex Renewable Energy from C$10.00 to C$9.00 and set an outperform rating for the company in a research note on Thursday, February 22nd. National Bankshares boosted their price target on shares of Innergex Renewable Energy from C$15.00 to C$16.00 and gave the company an outperform rating in a research note on Tuesday, May 28th. TD Securities decreased 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 note on Wednesday, February 14th. Finally, Raymond James decreased their price target on shares of Innergex Renewable Energy from C$15.00 to C$13.00 and set an outperform rating for the company in a research note on Thursday, February 22nd. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Innergex Renewable Energy has an average rating of Moderate Buy and a consensus target price of C$12.06.

Innergex Renewable Energy Stock Down 0.9 %

Innergex Renewable Energy stock opened at C$10.45 on Wednesday. The company has a quick ratio of 0.58, a current ratio of 0.74 and a debt-to-equity ratio of 546.12. Innergex Renewable Energy has a 12-month low of C$7.05 and a 12-month high of C$13.52. The firm’s fifty day moving average is C$8.84 and its 200 day moving average is C$8.71. The company has a market capitalization of C$2.13 billion, a PE ratio of -16.11, a PEG ratio of 20.61 and a beta of 0.34.

Innergex Renewable Energy (TSE:INE) last released its earnings results on Wednesday, May 8th. The company reported C($0.11) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of C($0.11). The company had revenue of C$242.54 million for the quarter, compared to the consensus estimate of C$240.80 million. Innergex Renewable Energy had a negative net margin of 11.78% and a negative return on equity of 10.13%. As a group, sell-side analysts predict that Innergex Renewable Energy will post 0.0799919 EPS for the current fiscal year.

Innergex Renewable Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 15th will be paid a $0.09 dividend. The ex-dividend date is Friday, June 28th. This represents a $0.36 annualized dividend and a dividend yield of 3.44%. Innergex Renewable Energy’s payout ratio is -56.25%.

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.