Innergex Renewable Energy (TSE:INE) Shares Cross Above 200-Day Moving Average of $8.80

Innergex Renewable Energy Inc. (TSE:INE)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$8.80 and traded as high as C$10.52. Innergex Renewable Energy shares last traded at C$10.23, with a volume of 693,218 shares.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. National Bankshares upped their price objective on shares of Innergex Renewable Energy from C$15.00 to C$16.00 and gave the company an “outperform” rating in a report on Tuesday, May 28th. CIBC raised their price objective on shares of Innergex Renewable Energy from C$10.00 to C$11.00 and gave the stock a “neutral” rating in a report on Wednesday, June 12th. Scotiabank lifted their price objective on shares of Innergex Renewable Energy from C$10.50 to C$12.50 and gave the company an “outperform” rating in a research note on Wednesday, June 12th. Finally, Desjardins increased 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 issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$12.06.

Innergex Renewable Energy Stock Down 1.8 %

The company has a debt-to-equity ratio of 546.12, a quick ratio of 0.58 and a current ratio of 0.74. The stock’s 50 day moving average price is C$9.39 and its 200-day moving average price is C$8.80. The company has a market cap of C$2.08 billion, a PE ratio of -15.98, a PEG ratio of 20.61 and a beta of 0.34.

Innergex Renewable Energy (TSE:INE) last released its earnings results on Wednesday, May 8th. The company reported C($0.11) earnings per share for the quarter, meeting analysts’ consensus estimates 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 company had revenue of C$242.54 million during the quarter, compared to analyst estimates of C$240.80 million. On average, 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. Stockholders of record on Monday, July 15th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 3.52%. The ex-dividend date of this dividend is Friday, June 28th. Innergex Renewable Energy’s dividend payout ratio (DPR) is -56.25%.

Insider Buying and Selling

In other Innergex Renewable Energy news, Director Patrick Loulou bought 11,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was bought at an average price of C$10.25 per share, for a total transaction of C$112,750.00. 20.44% of the stock is owned by insiders.

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.