Innergex Renewable Energy Inc (TSE:INE) shares reached a new 52-week high on Friday . The company traded as high as C$14.92 and last traded at C$14.90, with a volume of 24804 shares. The stock had previously closed at C$14.73.
A number of equities research analysts recently weighed in on the stock. Raymond James reissued a “buy” rating and set a $0.65 price target on shares of DB Commodity Double Short ETN in a research note on Wednesday, May 15th. Desjardins reaffirmed a “buy” rating on shares of Savaria in a research note on Wednesday, April 24th. BMO Capital Markets reissued a “buy” rating on shares of Gran Tierra Energy in a research report on Wednesday, June 26th. Finally, TD Securities reduced their target price on shares of Power Financial from C$35.00 to C$34.00 in a report on Thursday, May 16th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of C$16.00.
The business has a 50-day moving average of C$14.22. The company has a quick ratio of 0.17, a current ratio of 1.09 and a debt-to-equity ratio of 520.90. The firm has a market cap of $1.98 billion and a price-to-earnings ratio of 73.48.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 4.70%. The ex-dividend date was Thursday, June 27th. Innergex Renewable Energy’s dividend payout ratio is currently 340.80%.
In other Innergex Renewable Energy news, Director Daniel Lafrance acquired 2,000 shares of Innergex Renewable Energy stock in a transaction that occurred on Thursday, May 16th. The stock was bought at an average cost of C$13.82 per share, for a total transaction of C$27,640.00. Following the acquisition, the director now owns 35,000 shares of the company’s stock, valued at C$483,700.
About Innergex Renewable Energy (TSE:INE)
Innergex Renewable Energy Inc operates as an independent renewable power producer. It develops, owns, and operates run-of-river hydroelectric facilities, wind farms, solar photovoltaic farms, and geothermal power facilities. The company operates through five segments: Hydroelectric Generation, Wind Power Generation, Solar Power Generation, Geothermal Generation, and Site Development.
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