TD Securities cut shares of Innergex Renewable Energy (TSE:INE – Free Report) from a buy rating to a hold rating in a research note issued to investors on Friday morning, BayStreet.CA reports. They currently have C$10.00 target price on the stock.
Other equities analysts have also recently issued research reports about the stock. National Bankshares upped their price target on shares of Innergex Renewable Energy from C$16.00 to C$17.00 and gave the stock an outperform rating in a research note on Thursday, July 4th. Cibc World Mkts upgraded shares of Innergex Renewable Energy to a hold rating in a research note on Monday, July 22nd. CIBC upped their price target on shares of Innergex Renewable Energy from C$11.00 to C$11.50 and gave the stock a neutral rating in a research note on Monday, July 22nd. Desjardins boosted their target price on Innergex Renewable Energy from C$13.00 to C$14.00 and gave the stock a buy rating in a research report on Thursday, June 6th. Finally, Scotiabank boosted their target price on Innergex Renewable Energy from C$10.50 to C$12.50 and gave the stock an outperform rating in a research report on Wednesday, June 12th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of C$12.25.
Check Out Our Latest Stock Analysis on Innergex Renewable Energy
Innergex Renewable Energy Stock Performance
Innergex Renewable Energy (TSE:INE – Get Free Report) last announced its quarterly earnings results on Wednesday, May 8th. The company reported C($0.11) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of C($0.11). The company had revenue of C$242.54 million for the quarter, compared to analysts’ expectations of C$240.80 million. Innergex Renewable Energy had a negative net margin of 11.78% and a negative return on equity of 10.13%. Sell-side analysts anticipate that Innergex Renewable Energy will post 0.0799919 EPS for the current fiscal year.
Innergex Renewable Energy Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 15th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 3.78%. The ex-dividend date was Friday, June 28th. Innergex Renewable Energy’s payout ratio is currently -56.25%.
Insider Activity
In other Innergex Renewable Energy news, Director Patrick Loulou purchased 11,000 shares of Innergex Renewable Energy stock in a transaction dated Thursday, June 20th. The stock was purchased at an average price of C$10.25 per share, with a total value of C$112,750.00. Insiders own 20.44% of the company’s stock.
About Innergex Renewable Energy
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 renewable power-generating and energy storage facilities primarily in hydroelectric, wind, and solar power sectors. The company operates through three segments: Hydroelectric Power Generation, Wind Power Generation, and Solar Power Generation.
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