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

Shares of Innergex Renewable Energy Inc. (TSE:INE) have received a consensus rating of “Moderate Buy” from the ten ratings firms that are currently covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is C$12.38.

Several research firms recently commented on INE. CIBC dropped their target price on Innergex Renewable Energy from C$11.50 to C$11.00 in a research note on Thursday, November 7th. Scotiabank dropped their price objective on shares of Innergex Renewable Energy from C$12.50 to C$11.50 in a research note on Thursday, November 7th.

Innergex Renewable Energy Price Performance

Innergex Renewable Energy stock opened at C$7.61 on Monday. The firm’s 50-day moving average is C$8.25 and its two-hundred day moving average is C$9.18. The company has a debt-to-equity ratio of 428.86, a current ratio of 0.57 and a quick ratio of 0.58. The stock has a market capitalization of C$1.54 billion, a P/E ratio of -11.71, a P/E/G ratio of 20.61 and a beta of 0.36. Innergex Renewable Energy has a 12-month low of C$7.05 and a 12-month high of C$10.96.

Innergex Renewable Energy (TSE:INE) last released its earnings results on Wednesday, November 6th. The company reported C$0.05 EPS for the quarter, topping the consensus estimate of C$0.03 by C$0.02. Innergex Renewable Energy had a negative net margin of 11.96% and a negative return on equity of 9.27%. During the same period in the previous year, the company posted $0.03 earnings per share. Equities analysts predict that Innergex Renewable Energy will post 0.1549878 earnings per share for the current year.

Innergex Renewable Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.09 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.36 dividend on an annualized basis and a yield of 4.73%. Innergex Renewable Energy’s dividend payout ratio (DPR) is -55.38%.

Innergex Renewable Energy Company Profile

For over 30 years, Innergex has believed in a world where abundant renewable energy promotes healthier communities and creates shared prosperity, which led to Innergex being recognized as Canada’s best corporate citizens in 2023 by Corporate Knights. As an independent renewable power producer which develops, acquires, owns and operates hydroelectric facilities, wind farms, solar farms and energy storage facilities, Innergex is convinced that generating power from renewable sources will lead the way to a better world.