Innergex Renewable Energy Inc. (TSE:INE) Director Patrick Loulou Buys 11,000 Shares

Innergex Renewable Energy Inc. (TSE:INE) Director Patrick Loulou acquired 11,000 shares of Innergex Renewable Energy stock in a transaction on Thursday, June 20th. The stock was purchased at an average price of C$10.25 per share, with a total value of C$112,750.00.

Innergex Renewable Energy Trading Down 0.7 %

Shares of INE opened at C$10.17 on Friday. The stock has a fifty day moving average price of C$9.11 and a two-hundred day moving average price of C$8.75. The company has a debt-to-equity ratio of 546.12, a quick ratio of 0.58 and a current ratio of 0.74. Innergex Renewable Energy Inc. has a 52-week low of C$7.05 and a 52-week high of C$13.44. The company has a market cap of C$2.07 billion, a price-to-earnings ratio of -15.89, a PEG ratio of 20.61 and a beta of 0.34.

Innergex Renewable Energy (TSE:INE) last issued its quarterly earnings data on Wednesday, May 8th. The company reported C($0.11) earnings per share (EPS) for the quarter, meeting the consensus estimate of C($0.11). Innergex Renewable Energy had a negative return on equity of 10.13% and a negative net margin of 11.78%. The firm had revenue of C$242.54 million during the quarter, compared to the consensus estimate of C$240.80 million. Analysts predict that Innergex Renewable Energy Inc. will post 0.0799919 EPS for the current fiscal year.

Innergex Renewable Energy Announces Dividend

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 given a dividend of $0.09 per share. 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 3.54%. Innergex Renewable Energy’s payout ratio is currently -56.25%.

Analyst Ratings Changes

Several analysts have recently weighed in on INE shares. National Bankshares lifted their price objective on Innergex Renewable Energy from C$15.00 to C$16.00 and gave the stock an “outperform” rating in a report on Tuesday, May 28th. Scotiabank raised their target price on Innergex Renewable Energy from C$10.50 to C$12.50 and gave the stock an “outperform” rating in a research report on Wednesday, June 12th. CIBC raised their target price on Innergex Renewable Energy from C$10.00 to C$11.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 12th. Finally, Desjardins raised their target price on Innergex Renewable Energy from C$13.00 to C$14.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$12.06.

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.