Innergex Renewable Energy (OTCMKTS:INGXF) Shares Cross Above 50 Day Moving Average – Time to Sell?

Shares of Innergex Renewable Energy Inc. (OTCMKTS:INGXF) passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $7.32 and traded as high as $9.47. Innergex Renewable Energy shares last traded at $9.40, with a volume of 4,209 shares traded.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on INGXF shares. Raymond James cut shares of Innergex Renewable Energy from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, February 25th. National Bank Financial cut Innergex Renewable Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 25th.

Innergex Renewable Energy Price Performance

The firm’s 50 day moving average price is $7.32 and its two-hundred day moving average price is $6.73. The company has a debt-to-equity ratio of 4.50, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a market cap of $1.91 billion, a PE ratio of 313.33 and a beta of 0.56.

Innergex Renewable Energy (OTCMKTS:INGXF) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.22. The business had revenue of $204.46 million during the quarter, compared to analyst estimates of $266.84 million. Innergex Renewable Energy had a net margin of 1.84% and a return on equity of 4.40%. On average, research analysts expect that Innergex Renewable Energy Inc. will post 0.09 earnings per share for the current year.

Innergex Renewable Energy Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be issued a dividend of $0.0624 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a yield of 2.64%. Innergex Renewable Energy’s dividend payout ratio (DPR) is 800.00%.

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.