Brokerages Set Innergex Renewable Energy Inc. (TSE:INE) Price Target at C$12.38

Innergex Renewable Energy Inc. (TSE:INE) has received an average recommendation of “Moderate Buy” from the ten research firms that are covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is C$12.38.

Several analysts have commented on the company. Cormark downgraded Innergex Renewable Energy from a “moderate buy” rating to a “hold” rating in a research note on Friday, August 9th. Scotiabank dropped their price target on Innergex Renewable Energy from C$12.50 to C$11.50 in a research note on Thursday, November 7th. CIBC decreased their target price on Innergex Renewable Energy from C$11.50 to C$11.00 in a report on Thursday, November 7th. Finally, BMO Capital Markets raised their target price on Innergex Renewable Energy from C$11.00 to C$11.50 in a report on Thursday, September 5th.

Innergex Renewable Energy Stock Down 1.2 %

Shares of TSE:INE opened at C$8.80 on Friday. Innergex Renewable Energy has a 52-week low of C$7.05 and a 52-week high of C$10.96. The firm has a market capitalization of C$1.78 billion, a P/E ratio of -13.75, a P/E/G ratio of 20.61 and a beta of 0.36. The stock has a 50 day moving average price of C$9.36 and a 200-day moving average price of C$9.61. The company has a debt-to-equity ratio of 428.86, a quick ratio of 0.58 and a current ratio of 0.57.

Innergex Renewable Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date is Tuesday, December 31st. Innergex Renewable Energy’s dividend payout ratio 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.