Brokerages Set Innergex Renewable Energy Inc. (TSE:INE) Target Price at C$11.59

Shares of Innergex Renewable Energy Inc. (TSE:INE) have been given a consensus rating of “Hold” by the eight ratings firms that are covering the stock, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is C$11.59.

INE has been the subject of a number of research reports. Raymond James cut shares of Innergex Renewable Energy from an “outperform” rating to a “market perform” rating and raised their price target for the stock from C$11.50 to C$13.75 in a report on Wednesday, February 26th. National Bank Financial downgraded Innergex Renewable Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 25th. National Bankshares lowered Innergex Renewable Energy from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from C$16.00 to C$13.75 in a research report on Wednesday, February 26th. Cormark cut their price target on Innergex Renewable Energy from C$10.00 to C$9.50 in a report on Thursday, January 30th. Finally, Desjardins downgraded Innergex Renewable Energy from a “buy” rating to a “tender” rating and decreased their price objective for the company from C$14.50 to C$13.75 in a report on Wednesday, February 26th.

Innergex Renewable Energy Stock Performance

Shares of INE stock opened at C$13.49 on Tuesday. The firm has a 50 day moving average of C$9.07 and a 200-day moving average of C$9.12. The company has a market cap of C$2.77 billion, a price-to-earnings ratio of -21.64, a price-to-earnings-growth ratio of 20.61 and a beta of 0.36. The company has a quick ratio of 0.58, a current ratio of 0.56 and a debt-to-equity ratio of 620.44. Innergex Renewable Energy has a 52 week low of C$6.98 and a 52 week high of C$13.60.

Innergex Renewable Energy Company Profile

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.