Innergex Renewable Energy Inc. (TSE:INE) Receives C$12.38 Consensus Price Target from Analysts

Shares of Innergex Renewable Energy Inc. (TSE:INE) have earned an average recommendation of “Moderate Buy” from the ten research firms that are presently covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is C$12.38.

A number of research analysts have recently weighed in on INE shares. Scotiabank lowered their price objective on Innergex Renewable Energy from C$12.50 to C$11.50 in a research report on Thursday, November 7th. CIBC cut their price target on Innergex Renewable Energy from C$11.50 to C$11.00 in a report on Thursday, November 7th.

Innergex Renewable Energy Trading Up 0.1 %

Innergex Renewable Energy stock opened at C$7.61 on Monday. The company has a debt-to-equity ratio of 428.86, a current ratio of 0.57 and a quick ratio of 0.58. The business’s fifty day moving average is C$8.25 and its 200 day moving average is C$9.19. Innergex Renewable Energy has a one year low of C$7.05 and a one year high of C$10.96. The stock has a market capitalization of C$1.54 billion, a PE ratio of -11.71, a price-to-earnings-growth ratio of 20.61 and a beta of 0.36.

Innergex Renewable Energy (TSE:INE) last announced its earnings results on Wednesday, November 6th. The company reported C$0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.03 by C$0.02. Innergex Renewable Energy had a negative return on equity of 9.27% and a negative net margin of 11.96%. During the same period in the previous year, the business earned $0.03 EPS. On average, sell-side analysts predict that Innergex Renewable Energy will post 0.1549878 EPS for the current year.

Innergex Renewable Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date of this dividend was Tuesday, December 31st. Innergex Renewable Energy’s dividend payout ratio is currently -55.38%.

About Innergex Renewable Energy

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.