Innergex Renewable Energy Inc. (TSE:INE) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Innergex Renewable Energy Inc. (TSE:INE) have been assigned an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is C$12.59.

A number of analysts have recently issued reports on INE shares. Raymond James dropped their price objective on shares of Innergex Renewable Energy from C$15.00 to C$13.00 and set an “outperform” rating for the company in a report on Thursday, February 22nd. Royal Bank of Canada dropped their price objective on shares of Innergex Renewable Energy from C$13.00 to C$11.00 and set a “sector perform” rating for the company in a report on Monday, February 12th. TD Securities lowered their price target on shares of Innergex Renewable Energy from C$12.00 to C$10.00 and set a “buy” rating for the company in a research note on Wednesday, February 14th. National Bankshares boosted their price target on shares of Innergex Renewable Energy from C$15.75 to C$17.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 9th. Finally, CIBC boosted their price target on shares of Innergex Renewable Energy from C$9.00 to C$9.50 and gave the stock a “neutral” rating in a research note on Friday, February 23rd.

Insider Activity at Innergex Renewable Energy

In related news, Senior Officer Jean Trudel purchased 13,000 shares of Innergex Renewable Energy stock in a transaction that occurred on Monday, February 26th. The shares were bought at an average price of C$7.68 per share, for a total transaction of C$99,840.00. In other Innergex Renewable Energy news, Director Daniel Lafrance acquired 5,000 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were acquired at an average price of C$8.35 per share, for a total transaction of C$41,750.00. Also, Senior Officer Jean Trudel purchased 13,000 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were purchased at an average price of C$7.68 per share, for a total transaction of C$99,840.00. Insiders have purchased 22,125 shares of company stock worth $174,975 over the last 90 days. 20.41% of the stock is owned by company insiders.

Innergex Renewable Energy Stock Up 1.0 %

INE opened at C$8.19 on Friday. The company has a fifty day moving average price of C$8.02 and a 200-day moving average price of C$8.77. The firm has a market capitalization of C$1.67 billion, a P/E ratio of -16.06, a price-to-earnings-growth ratio of 20.61 and a beta of 0.35. The company has a debt-to-equity ratio of 544.43, a current ratio of 0.92 and a quick ratio of 0.58. Innergex Renewable Energy has a one year low of C$7.05 and a one year high of C$14.40.

Innergex Renewable Energy (TSE:INE) last posted its quarterly earnings data on Wednesday, February 21st. The company reported C($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C($0.04) by C$0.01. Innergex Renewable Energy had a negative net margin of 9.45% and a negative return on equity of 7.86%. The company had revenue of C$261.53 million during the quarter, compared to the consensus estimate of C$264.85 million. Equities research analysts expect that Innergex Renewable Energy will post 0.0799919 earnings per share for the current fiscal year.

Innergex Renewable Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 15th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 4.40%. The ex-dividend date of this dividend was Wednesday, March 27th. Innergex Renewable Energy’s dividend payout ratio is currently -70.59%.

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.