Analysts’ Recent Ratings Changes for Innergex Renewable Energy (INE)

A number of firms have modified their ratings and price targets on shares of Innergex Renewable Energy (TSE: INE) recently:

• 6/12/2024 – Innergex Renewable Energy had its price target raised by analysts at Scotiabank from C$10.50 to C$12.50. They now have an “outperform” rating on the stock.
• 6/12/2024 – Innergex Renewable Energy had its price target raised by analysts at CIBC from C$10.00 to C$11.00. They now have a “neutral” rating on the stock.
• 6/6/2024 – Innergex Renewable Energy had its price target raised by analysts at Desjardins from C$13.00 to C$14.00. They now have a “buy” rating on the stock.
• 5/28/2024 – Innergex Renewable Energy had its price target raised by analysts at National Bankshares, Inc. from C$15.00 to C$16.00. They now have an “outperform” rating on the stock.
• 5/10/2024 – Innergex Renewable Energy had its price target raised by analysts at CIBC from C$9.50 to C$10.00.
• 4/30/2024 – Innergex Renewable Energy had its price target lowered by analysts at Desjardins from C$14.00 to C$13.00. They now have a “buy” rating on the stock.

Innergex Renewable Energy Stock Performance

INE stock traded down C$0.07 on Monday, reaching C$10.38. The company’s stock had a trading volume of 580,106 shares, compared to its average volume of 751,918. Innergex Renewable Energy Inc. has a 52 week low of C$7.05 and a 52 week high of C$13.49. The company has a market capitalization of C$2.11 billion, a P/E ratio of -16.22, a price-to-earnings-growth ratio of 20.61 and a beta of 0.34. The firm has a fifty day moving average of C$8.89 and a two-hundred day moving average of C$8.71. The company has a debt-to-equity ratio of 546.12, a current ratio of 0.74 and a quick ratio of 0.58.

Innergex Renewable Energy (TSE:INE) last issued its quarterly 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 firm had revenue of C$242.54 million during the quarter, compared to analyst estimates of C$240.80 million. Innergex Renewable Energy had a negative return on equity of 10.13% and a negative net margin of 11.78%. As a group, analysts predict that Innergex Renewable Energy Inc. will post 0.0799919 EPS for the current fiscal year.

Innergex Renewable Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 15th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.47%. Innergex Renewable Energy’s payout ratio is currently -56.25%.

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.