Innergex Renewable Energy (TSE:INE) Rating Lowered to Sector Perform at National Bankshares

Innergex Renewable Energy (TSE:INE) was downgraded by stock analysts at National Bankshares from an “outperform” rating to a “sector perform” rating in a note issued to investors on Wednesday,BayStreet.CA reports. They presently have a C$13.75 target price on the stock, down from their previous target price of C$16.00. National Bankshares’ price target would indicate a potential upside of 2.15% from the stock’s previous close.

Several other research firms have also weighed in on INE. TD Securities lifted their price objective on Innergex Renewable Energy from C$8.00 to C$9.00 and gave the company a “hold” rating in a research note on Friday, February 21st. Cormark reduced their price objective on Innergex Renewable Energy from C$10.00 to C$9.50 in a research note on Thursday, January 30th. Raymond James reduced their price objective on Innergex Renewable Energy from C$13.00 to C$11.50 in a research note on Monday. Scotiabank reduced their price target on Innergex Renewable Energy from C$11.50 to C$10.50 in a research report on Thursday, January 30th. Finally, CIBC reduced their price target on Innergex Renewable Energy from C$11.50 to C$11.00 in a research report on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Innergex Renewable Energy currently has a consensus rating of “Hold” and a consensus target price of C$11.59.

Innergex Renewable Energy Price Performance

INE opened at C$13.46 on Wednesday. The company has a debt-to-equity ratio of 620.44, a current ratio of 0.56 and a quick ratio of 0.58. The stock has a market capitalization of C$2.76 billion, a price-to-earnings ratio of -21.59, a price-to-earnings-growth ratio of 20.61 and a beta of 0.36. The business has a 50-day moving average of C$8.11 and a two-hundred day moving average of C$8.87. Innergex Renewable Energy has a 12 month low of C$6.98 and a 12 month high of C$13.53.

Innergex Renewable Energy Company Profile

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.