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

Innergex Renewable Energy (TSE:INE) had its price objective cut by CIBC from C$11.50 to C$11.00 in a research note released on Thursday morning,BayStreet.CA reports.

INE has been the subject of a number of other research reports. Cibc World Mkts raised shares of Innergex Renewable Energy to a “hold” rating in a research note on Monday, July 22nd. Cormark lowered shares of Innergex Renewable Energy from a “moderate buy” rating to a “hold” rating in a research report on Friday, August 9th. TD Securities downgraded shares of Innergex Renewable Energy from a “buy” rating to a “hold” rating and set a C$10.00 price target for the company. in a report on Friday, July 26th. Scotiabank decreased their price objective on shares of Innergex Renewable Energy from C$12.50 to C$11.50 in a report on Thursday. Finally, BMO Capital Markets boosted their price objective on shares of Innergex Renewable Energy from C$11.00 to C$11.50 in a research report on Thursday, September 5th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of C$12.38.

Innergex Renewable Energy Trading Down 0.2 %

INE traded down C$0.02 during trading on Thursday, hitting C$8.82. The company’s stock had a trading volume of 138,334 shares, compared to its average volume of 644,683. The stock has a market cap of C$1.79 billion, a PE ratio of -13.60, a PEG ratio of 20.61 and a beta of 0.36. The company has a debt-to-equity ratio of 428.86, a current ratio of 0.57 and a quick ratio of 0.58. The firm’s 50 day moving average price is C$9.62 and its 200-day moving average price is C$9.56. Innergex Renewable Energy has a twelve month low of C$7.05 and a twelve month high of C$10.96.

Innergex Renewable Energy (TSE:INE) last released its quarterly earnings data on Wednesday, August 7th. The company reported C($0.03) earnings per share for the quarter, missing the consensus estimate of C($0.02) by C($0.01). The business had revenue of C$239.51 million for the quarter, compared to analyst estimates 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%. On average, analysts expect that Innergex Renewable Energy will post 0.1549878 earnings per share for the current year.

Innergex Renewable Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 4.08%. The ex-dividend date is Tuesday, December 31st. Innergex Renewable Energy’s dividend payout ratio (DPR) is presently -55.38%.

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.