Innergex Renewable Energy Inc. (TSE:INE) Receives C$11.59 Consensus Target Price from Analysts

Shares of Innergex Renewable Energy Inc. (TSE:INE) have received an average recommendation of “Hold” from the eight analysts that are covering the firm, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is C$11.59.

A number of analysts have recently issued reports on the company. National Bank Financial cut Innergex Renewable Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Scotiabank lowered their price target on shares of Innergex Renewable Energy from C$11.50 to C$10.50 in a report on Thursday, January 30th. National Bankshares cut shares of Innergex Renewable Energy from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from C$16.00 to C$13.75 in a research note on Wednesday, February 26th. TD Securities lifted their target price on shares of Innergex Renewable Energy from C$8.00 to C$9.00 and gave the company a “hold” rating in a research report on Friday, February 21st. Finally, Raymond James cut shares of Innergex Renewable Energy from an “outperform” rating to a “market perform” rating and upped their target price for the company from C$11.50 to C$13.75 in a research note on Wednesday, February 26th.

Innergex Renewable Energy Stock Down 0.1 %

TSE INE opened at C$13.43 on Friday. Innergex Renewable Energy has a twelve month low of C$6.98 and a twelve month high of C$13.63. The company has a debt-to-equity ratio of 620.44, a quick ratio of 0.58 and a current ratio of 0.56. The stock has a market cap of C$2.75 billion, a PE ratio of -21.54, a PEG ratio of 20.61 and a beta of 0.36. The firm has a 50-day simple moving average of C$11.10 and a 200 day simple moving average of C$9.66.

Innergex Renewable Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 15th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date is Monday, March 31st. Innergex Renewable Energy’s dividend payout ratio is presently -57.74%.

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.