Innergex Renewable Energy (TSE:INE) Stock Price Crosses Above Two Hundred Day Moving Average of $8.73

Shares of Innergex Renewable Energy Inc. (TSE:INE) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$8.73 and traded as high as C$10.65. Innergex Renewable Energy shares last traded at C$10.59, with a volume of 221,364 shares.

Analyst Upgrades and Downgrades

Several research analysts have commented on INE shares. Raymond James reduced their price objective on Innergex Renewable Energy from C$15.00 to C$13.00 and set an “outperform” rating on the stock in a report on Thursday, February 22nd. National Bankshares lifted their price target on Innergex Renewable Energy from C$15.00 to C$16.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 28th. Scotiabank boosted their price objective on Innergex Renewable Energy from C$10.50 to C$12.50 and gave the company an “outperform” rating in a report on Wednesday, June 12th. BMO Capital Markets cut their price objective on 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. Finally, CIBC boosted their price objective on Innergex Renewable Energy from C$10.00 to C$11.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 12th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Innergex Renewable Energy currently has an average rating of “Moderate Buy” and a consensus target price of C$12.06.

Innergex Renewable Energy Stock Up 2.3 %

The company has a debt-to-equity ratio of 546.12, a current ratio of 0.74 and a quick ratio of 0.58. The business has a fifty day moving average of C$9.02 and a 200 day moving average of C$8.73. The stock has a market capitalization of C$2.15 billion, a price-to-earnings ratio of -16.55, a PEG ratio of 20.61 and a beta of 0.34.

Innergex Renewable Energy (TSE:INE) last released its quarterly earnings results on Wednesday, May 8th. The company reported C($0.11) EPS for the quarter, hitting analysts’ consensus estimates of C($0.11). The company had revenue of C$242.54 million for the quarter, compared to analysts’ expectations 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, equities analysts predict that Innergex Renewable Energy Inc. will post 0.0799919 earnings per share for the current year.

Innergex Renewable Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 15th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend is Friday, June 28th. Innergex Renewable Energy’s payout ratio is -56.25%.

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.