Innergex Renewable Energy (TSE:INE) PT Raised to C$11.50

Innergex Renewable Energy (TSE:INE) had its price objective boosted by stock analysts at BMO Capital Markets from C$11.00 to C$11.50 in a note issued to investors on Thursday, BayStreet.CA reports. BMO Capital Markets’ price objective points to a potential upside of 27.35% from the company’s current price.

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

Innergex Renewable Energy Trading Down 0.2 %

TSE INE opened at C$9.03 on Thursday. The stock has a market cap of C$1.83 billion, a P/E ratio of -13.89, a PEG ratio of 20.61 and a beta of 0.34. The company’s fifty day simple moving average is C$9.71 and its 200-day simple moving average is C$9.08. The company has a current ratio of 0.57, a quick ratio of 0.58 and a debt-to-equity ratio of 428.86. Innergex Renewable Energy has a 52 week low of C$7.05 and a 52 week high of C$12.77.

Innergex Renewable Energy (TSE:INE) last released its quarterly earnings results on Wednesday, August 7th. The company reported C($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.02) by C($0.01). The firm had revenue of C$239.51 million for the quarter, compared to analysts’ expectations of C$256.60 million. Innergex Renewable Energy had a negative return on equity of 9.27% and a negative net margin of 11.96%. Equities research analysts predict that Innergex Renewable Energy will post 0.0799919 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Patrick Loulou bought 11,000 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was bought at an average cost of C$10.25 per share, for a total transaction of C$112,750.00. 20.45% of the stock is owned by company insiders.

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.