Innergex Renewable Energy (TSE:INE) Raised to Hold at Cibc World Mkts

Cibc World Mkts upgraded shares of Innergex Renewable Energy (TSE:INE) to a hold rating in a report published on Monday morning, Zacks.com reports.

INE has been the subject of a number of other reports. Scotiabank increased their target price on Innergex Renewable Energy from C$10.50 to C$12.50 and gave the stock an outperform rating in a report on Wednesday, June 12th. Desjardins increased their price objective on Innergex Renewable Energy from C$13.00 to C$14.00 and gave the stock a buy rating in a research note on Thursday, June 6th. CIBC lifted their price objective on Innergex Renewable Energy from C$11.00 to C$11.50 and gave the company a neutral rating in a report on Monday. Finally, National Bankshares upped their target price on shares of Innergex Renewable Energy from C$16.00 to C$17.00 and gave the stock an outperform rating in a report on Thursday, July 4th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of C$12.25.

Innergex Renewable Energy Trading Down 2.7 %

Innergex Renewable Energy stock opened at C$9.76 on Monday. The business has a 50 day moving average price of C$10.06 and a two-hundred day moving average price of C$8.94. The company has a quick ratio of 0.58, a current ratio of 0.74 and a debt-to-equity ratio of 546.12. The stock has a market cap of C$1.99 billion, a price-to-earnings ratio of -15.25, a price-to-earnings-growth ratio of 20.61 and a beta of 0.34. Innergex Renewable Energy has a 12 month low of C$7.05 and a 12 month high of C$13.34.

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

Innergex Renewable Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 15th were paid a $0.09 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.69%. Innergex Renewable Energy’s dividend payout ratio (DPR) is presently -56.25%.

Insider Activity at Innergex Renewable Energy

In related news, Director Patrick Loulou acquired 11,000 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were purchased at an average price of C$10.25 per share, with a total value of C$112,750.00. 20.44% of the stock is currently 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.