Innergex Renewable Energy (TSE:INE) Reaches New 52-Week High at $14.92

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.

Innergex Renewable Energy (TSE:INE) last posted its earnings results on Tuesday, May 14th. The company reported C($0.12) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of C($0.03) by C($0.09). The firm had revenue of C$126.42 million for the quarter, compared to analysts’ expectations of C$128.00 million. On average, equities analysts anticipate that Innergex Renewable Energy Inc will post 0.39 EPS for the current fiscal year.

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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