Innergex Renewable Energy (TSE:INE) Shares Pass Above 200 Day Moving Average – Here’s What Happened

Innergex Renewable Energy Inc. (TSE:INE) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$9.36 and traded as high as C$9.59. Innergex Renewable Energy shares last traded at C$9.50, with a volume of 595,543 shares.

Analyst Ratings Changes

INE has been the topic of several research reports. TD Securities downgraded shares of Innergex Renewable Energy from a “buy” rating to a “hold” rating and set a C$10.00 price target on the stock. in a research note on Friday, July 26th. CIBC boosted their price target on shares of 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. Cibc World Mkts raised Innergex Renewable Energy to a “hold” rating in a research note on Monday, July 22nd. National Bankshares boosted their target price on Innergex Renewable Energy from C$16.00 to C$17.00 and gave the company an “outperform” rating in a research note on Thursday, July 4th. Finally, BMO Capital Markets raised their price target on Innergex Renewable Energy from C$11.00 to C$11.50 in a research report on Thursday, September 5th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$12.56.

Innergex Renewable Energy Trading Down 1.2 %

The company has a quick ratio of 0.58, a current ratio of 0.57 and a debt-to-equity ratio of 428.86. The firm has a market capitalization of C$1.93 billion, a PE ratio of -14.62, a PEG ratio of 20.61 and a beta of 0.34. The stock’s fifty day simple moving average is C$9.62 and its 200 day simple moving average is C$9.36.

Innergex Renewable Energy (TSE:INE) last posted its quarterly earnings data on Wednesday, August 7th. The company reported C($0.03) EPS for the quarter, missing the consensus estimate of C($0.02) by C($0.01). The company had revenue of C$239.51 million during the quarter, compared to analysts’ expectations of C$256.60 million. Innergex Renewable Energy had a negative return on equity of 9.27% and a negative net margin of 11.96%. On average, sell-side analysts predict that Innergex Renewable Energy Inc. will post 0.149517 earnings per share for the current year.

Innergex Renewable Energy Dividend Announcement

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 given a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.79%. Innergex Renewable Energy’s payout ratio is currently -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.