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

Innergex Renewable Energy Inc. (TSE:INE) has been given a consensus rating of “Moderate Buy” by the ten research firms that are currently covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is C$12.38.

Several equities analysts have recently weighed in on INE shares. CIBC cut their price objective on Innergex Renewable Energy from C$11.50 to C$11.00 in a report on Thursday, November 7th. Scotiabank reduced their price target on shares of Innergex Renewable Energy from C$12.50 to C$11.50 in a report on Thursday, November 7th.

Innergex Renewable Energy Trading Down 4.6 %

INE opened at C$7.47 on Monday. The company has a debt-to-equity ratio of 428.86, a current ratio of 0.57 and a quick ratio of 0.58. The company has a market cap of C$1.51 billion, a price-to-earnings ratio of -11.49, a price-to-earnings-growth ratio of 20.61 and a beta of 0.36. The firm has a 50 day simple moving average of C$8.29 and a 200 day simple moving average of C$9.22. Innergex Renewable Energy has a fifty-two week low of C$7.05 and a fifty-two week high of C$10.96.

Innergex Renewable Energy (TSE:INE) last released its earnings results on Wednesday, November 6th. The company reported C$0.05 EPS for the quarter, topping analysts’ consensus estimates of C$0.03 by C$0.02. Innergex Renewable Energy had a negative net margin of 11.96% and a negative return on equity of 9.27%. During the same quarter last year, the firm posted $0.03 earnings per share. On average, sell-side analysts anticipate that Innergex Renewable Energy will post 0.1549878 earnings per share for the current year.

Innergex Renewable Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.36 annualized dividend and a yield of 4.82%. Innergex Renewable Energy’s 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.