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

Shares of Innergex Renewable Energy Inc. (TSE:INE) have received a consensus rating of “Moderate Buy” from the ten analysts that are presently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is C$12.38.

A number of analysts have recently weighed in on the stock. CIBC decreased their price target on shares of Innergex Renewable Energy from C$11.50 to C$11.00 in a research report on Thursday, November 7th. Scotiabank lowered their price objective on Innergex Renewable Energy from C$12.50 to C$11.50 in a report on Thursday, November 7th. Finally, BMO Capital Markets increased 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 Performance

Shares of INE stock opened at C$8.18 on Thursday. The stock has a fifty day moving average price of C$8.79 and a 200 day moving average price of C$9.53. The company has a debt-to-equity ratio of 428.86, a quick ratio of 0.58 and a current ratio of 0.57. The stock has a market cap of C$1.66 billion, a PE ratio of -12.58, a P/E/G ratio of 20.61 and a beta of 0.36. Innergex Renewable Energy has a 1 year low of C$7.05 and a 1 year high of C$10.96.

Innergex Renewable Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 4.40%. The ex-dividend date of this dividend is Tuesday, December 31st. Innergex Renewable Energy’s dividend payout ratio is presently -55.38%.

About Innergex Renewable Energy

For over 30 years, Innergex has believed in a world where abundant renewable energy promotes healthier communities and creates shared prosperity, which led to Innergex being recognized as Canada’s best corporate citizens in 2023 by Corporate Knights. As an independent renewable power producer which develops, acquires, owns and operates hydroelectric facilities, wind farms, solar farms and energy storage facilities, Innergex is convinced that generating power from renewable sources will lead the way to a better world.