Analysts Set Innergex Renewable Energy Inc. (TSE:INE) PT at C$12.56

Innergex Renewable Energy Inc. (TSE:INE) has been assigned an average recommendation of “Moderate Buy” from the ten research firms that are currently covering the firm, MarketBeat reports. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is C$12.56.

INE has been the topic of several research analyst reports. CIBC upped their target price on shares of Innergex Renewable Energy from C$11.00 to C$11.50 and gave the company a “neutral” rating in a research note on Monday, July 22nd. National Bankshares raised their target price on shares of Innergex Renewable Energy from C$16.00 to C$17.00 and gave the stock an “outperform” rating in a report on Thursday, July 4th. BMO Capital Markets lifted their target price on shares of Innergex Renewable Energy from C$11.00 to C$11.50 in a research report on Thursday, September 5th. Cormark cut Innergex Renewable Energy from a “moderate buy” rating to a “hold” rating in a report on Friday, August 9th. Finally, TD Securities lowered Innergex Renewable Energy from a “buy” rating to a “hold” rating and set a C$10.00 price objective for the company. in a report on Friday, July 26th.

Innergex Renewable Energy Price Performance

Shares of TSE INE opened at C$9.81 on Tuesday. The company has a 50 day moving average of C$9.62 and a 200 day moving average of C$9.18. The company has a quick ratio of 0.58, a current ratio of 0.57 and a debt-to-equity ratio of 428.86. Innergex Renewable Energy has a twelve month low of C$7.05 and a twelve month high of C$12.35. The firm has a market cap of C$1.99 billion, a P/E ratio of -15.09, a PEG ratio of 20.61 and a beta of 0.34.

Innergex Renewable Energy (TSE:INE) last posted its quarterly earnings results 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). Innergex Renewable Energy had a negative return on equity of 9.27% and a negative net margin of 11.96%. The business had revenue of C$239.51 million during the quarter, compared to analysts’ expectations of C$256.60 million.

Innergex Renewable Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 15th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend is Friday, September 27th. Innergex Renewable Energy’s dividend payout ratio (DPR) is currently -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.