Innergex Renewable Energy Inc. (INE) To Go Ex-Dividend on September 27th

Innergex Renewable Energy Inc. (TSE:INE) announced a quarterly dividend on Friday, September 27th, Zacks reports. Investors of record on Tuesday, October 15th will be paid a dividend of 0.09 per share on Tuesday, October 15th. This represents a $0.36 annualized dividend and a yield of 3.52%. The ex-dividend date of this dividend is Friday, September 27th.

Innergex Renewable Energy Stock Performance

INE opened at C$10.23 on Wednesday. The firm’s fifty day simple moving average is C$9.58 and its two-hundred day simple moving average is C$9.23. Innergex Renewable Energy has a 52-week low of C$7.05 and a 52-week high of C$12.06. The company has a market cap of C$2.07 billion, a price-to-earnings ratio of -15.74, a PEG ratio of 20.61 and a beta of 0.34. The company has a quick ratio of 0.58, a current ratio of 0.57 and a debt-to-equity ratio of 428.86.

Innergex Renewable Energy (TSE:INE) last issued its quarterly earnings results on Wednesday, August 7th. The company reported C($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of C($0.02) by C($0.01). The company had revenue of C$239.51 million during the quarter, compared to analysts’ expectations of C$256.60 million. Innergex Renewable Energy had a negative net margin of 11.96% and a negative return on equity of 9.27%. Equities analysts anticipate that Innergex Renewable Energy will post 0.1533048 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on INE. Scotiabank raised their price objective on Innergex Renewable Energy from C$10.50 to C$12.50 and gave the company an “outperform” rating in a report on Wednesday, June 12th. National Bankshares raised their price target on shares of Innergex Renewable Energy from C$16.00 to C$17.00 and gave the stock an “outperform” rating in a research note on Thursday, July 4th. Cibc World Mkts raised shares of Innergex Renewable Energy to a “hold” rating in a research note on Monday, July 22nd. CIBC raised their target price on shares of Innergex Renewable Energy from C$11.00 to C$11.50 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Finally, TD Securities cut Innergex Renewable Energy from a “buy” rating to a “hold” rating and set a C$10.00 target price on the stock. in a report on Friday, July 26th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$12.56.

Innergex Renewable Energy Company Profile

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.