Innergex Renewable Energy Inc. (TSE:INE – Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$9.23 and traded as high as C$10.30. Innergex Renewable Energy shares last traded at C$10.23, with a volume of 465,941 shares.
Analyst Ratings Changes
INE has been the subject of several research analyst reports. Cibc World Mkts upgraded shares of Innergex Renewable Energy to a “hold” rating in a research note on Monday, July 22nd. Desjardins boosted their target price on Innergex Renewable Energy from C$13.00 to C$14.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. CIBC increased their price target on Innergex Renewable Energy from C$11.00 to C$11.50 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Cormark lowered Innergex Renewable Energy from a “moderate buy” rating to a “hold” rating in a report on Friday, August 9th. Finally, BMO Capital Markets upped their price objective on shares of Innergex Renewable Energy from C$11.00 to C$11.50 in a report on Thursday, September 5th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$12.56.
View Our Latest Stock Analysis on Innergex Renewable Energy
Innergex Renewable Energy Trading Up 0.3 %
Innergex Renewable Energy (TSE:INE – Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The company reported C($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of C($0.02) by C($0.01). Innergex Renewable Energy had a negative net margin of 11.96% and a negative return on equity of 9.27%. The firm had revenue of C$239.51 million for the quarter, compared to analysts’ expectations of C$256.60 million. Analysts anticipate that Innergex Renewable Energy Inc. will post 0.1533048 EPS for the current year.
Innergex Renewable Energy Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 15th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date is Friday, September 27th. Innergex Renewable Energy’s payout ratio is presently -55.38%.
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.
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