Innergex Renewable Energy Inc. (TSE:INE) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Innergex Renewable Energy Inc. (TSE:INE) have earned a consensus rating of “Moderate Buy” from the nine brokerages that are presently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is C$12.25.

INE has been the subject of a number of research reports. Cibc World Mkts raised shares of Innergex Renewable Energy to a “hold” rating in a report on Monday, July 22nd. CIBC increased their price objective 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. Scotiabank increased their price objective on shares of Innergex Renewable Energy from C$10.50 to C$12.50 and gave the stock an “outperform” rating in a research note on Wednesday, June 12th. TD Securities cut shares of Innergex Renewable Energy from a “buy” rating to a “hold” rating and set a C$10.00 price objective for the company. in a research note on Friday, July 26th. Finally, National Bankshares increased their price objective 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.

Innergex Renewable Energy Stock Down 0.2 %

Shares of Innergex Renewable Energy stock opened at C$9.40 on Monday. The company has a market cap of C$1.91 billion, a price-to-earnings ratio of -14.69, a price-to-earnings-growth ratio of 20.61 and a beta of 0.34. The company’s 50 day moving average is C$10.14 and its 200 day moving average is C$8.95. Innergex Renewable Energy has a twelve month low of C$7.05 and a twelve month high of C$13.34. The company has a quick ratio of 0.58, a current ratio of 0.74 and a debt-to-equity ratio of 546.12.

Innergex Renewable Energy (TSE:INE) last announced its earnings results on Wednesday, May 8th. The company reported C($0.11) EPS for the quarter, meeting analysts’ consensus estimates of C($0.11). Innergex Renewable Energy had a negative net margin of 11.78% and a negative return on equity of 10.13%. The business had revenue of C$242.54 million during the quarter, compared to analysts’ expectations of C$240.80 million. Research analysts anticipate that Innergex Renewable Energy will post 0.0799919 EPS for the current year.

Innergex Renewable Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Monday, July 15th were given a dividend of $0.09 per share. The ex-dividend date was Friday, June 28th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.83%. Innergex Renewable Energy’s dividend payout ratio is -56.25%.

Insider Buying and Selling at Innergex Renewable Energy

In other Innergex Renewable Energy news, Director Patrick Loulou acquired 11,000 shares of the stock in a transaction on Thursday, June 20th. The stock was acquired at an average price of C$10.25 per share, for a total transaction of C$112,750.00. 20.44% of the stock is owned by company insiders.

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.