Innergex Renewable Energy Inc. (TSE:INE) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Innergex Renewable Energy Inc. (TSE:INE) have been given a consensus rating of “Moderate Buy” by the ten research firms that are covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is C$12.38.

INE has been the topic of a number of analyst reports. BMO Capital Markets boosted their target price on shares of Innergex Renewable Energy from C$11.00 to C$11.50 in a report on Thursday, September 5th. Scotiabank decreased their price objective on Innergex Renewable Energy from C$12.50 to C$11.50 in a research note on Thursday, November 7th. Finally, CIBC cut their target price on Innergex Renewable Energy from C$11.50 to C$11.00 in a research note on Thursday, November 7th.

Innergex Renewable Energy Stock Performance

TSE INE opened at C$8.05 on Thursday. The firm has a market cap of C$1.63 billion, a P/E ratio of -12.38, a price-to-earnings-growth ratio of 20.61 and a beta of 0.36. The company has a quick ratio of 0.58, a current ratio of 0.57 and a debt-to-equity ratio of 428.86. The company’s 50 day moving average is C$8.68 and its 200-day moving average is C$9.48. Innergex Renewable Energy has a 12-month low of C$7.05 and a 12-month high of C$10.96.

Innergex Renewable Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 4.47%. The ex-dividend date of this dividend is Tuesday, December 31st. Innergex Renewable Energy’s payout ratio is -55.38%.

Innergex Renewable Energy Company Profile

For over 30 years, Innergex has believed in a world where abundant renewable energy promotes healthier communities and creates shared prosperity, which led to Innergex being recognized as Canada’s best corporate citizens in 2023 by Corporate Knights. As an independent renewable power producer which develops, acquires, owns and operates hydroelectric facilities, wind farms, solar farms and energy storage facilities, Innergex is convinced that generating power from renewable sources will lead the way to a better world.