Innergex Renewable Energy Inc. (TSE:INE) Director Daniel Lafrance Acquires 1,000 Shares

Innergex Renewable Energy Inc. (TSE:INE) Director Daniel Lafrance bought 1,000 shares of Innergex Renewable Energy stock in a transaction on Thursday, November 25th. The shares were purchased at an average cost of C$19.21 per share, with a total value of C$19,210.00. Following the completion of the purchase, the director now directly owns 38,000 shares in the company, valued at C$729,980.

Shares of TSE INE traded up C$0.04 during midday trading on Thursday, reaching C$19.22. The company’s stock had a trading volume of 207,706 shares, compared to its average volume of 702,557. The company has a current ratio of 0.55, a quick ratio of 0.43 and a debt-to-equity ratio of 407.83. The company has a 50 day moving average price of C$20.36 and a 200 day moving average price of C$20.62. Innergex Renewable Energy Inc. has a one year low of C$18.37 and a one year high of C$32.48. The company has a market cap of C$3.71 billion and a price-to-earnings ratio of -18.50.

Innergex Renewable Energy (TSE:INE) last released its earnings results on Tuesday, November 9th. The company reported C$0.05 EPS for the quarter, missing analysts’ consensus estimates of C$0.13 by C($0.08). The company had revenue of C$184.56 million for the quarter, compared to analyst estimates of C$178.70 million. Research analysts anticipate that Innergex Renewable Energy Inc. will post 0.31 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, October 15th. Stockholders of record on Friday, October 15th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, September 28th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.75%. Innergex Renewable Energy’s dividend payout ratio is currently -69.30%.

A number of research analysts have issued reports on the stock. National Bank Financial reissued an “outperform” rating on shares of Innergex Renewable Energy in a research note on Friday, September 17th. CSFB set a C$26.00 price target on shares of Innergex Renewable Energy and gave the stock an “outperform” rating in a research report on Friday, September 17th. Scotiabank boosted their price target on shares of Innergex Renewable Energy from C$23.50 to C$26.50 in a research report on Tuesday, September 7th. BMO Capital Markets boosted their price target on shares of Innergex Renewable Energy from C$23.00 to C$24.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 7th. Finally, Royal Bank of Canada dropped their price target on shares of Innergex Renewable Energy from C$24.00 to C$23.00 and set a “sector perform” rating on the stock in a research report on Friday, November 12th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of C$24.98.

Innergex Renewable Energy Company Profile

Innergex Renewable Energy Inc operates as an independent renewable power producer in Canada, the United States, France, and Chile. It acquires, owns, develops, and operates hydroelectric facilities, and wind and solar farms, as well as energy storage facilities. The company operates through three segments: Hydroelectric Generation, Wind Power Generation, and Solar Power Generation.

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