Innergex Renewable Energy (INE) Reaches New 52-Week Low at $13.40

Innergex Renewable Energy (TSE:INE) shares hit a new 52-week low on Wednesday . The company traded as low as C$13.40 and last traded at C$13.46, with a volume of 98323 shares. The stock had previously closed at C$13.72.

A number of research analysts have weighed in on the company. Desjardins increased their price target on Innergex Renewable Energy from C$15.25 to C$15.50 in a research note on Thursday. TD Securities increased their price target on Innergex Renewable Energy to C$15.00 and gave the stock a “hold” rating in a research note on Tuesday, May 8th. Canaccord Genuity set a C$14.50 price target on Innergex Renewable Energy and gave the stock a “hold” rating in a research note on Friday, May 4th. Finally, BMO Capital Markets lowered Innergex Renewable Energy from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from C$19.00 to C$15.00 in a research note on Wednesday, February 7th.

Innergex Renewable Energy (TSE:INE) last issued its quarterly earnings results on Wednesday, February 21st. The company reported C$0.03 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.06 by C($0.03). Innergex Renewable Energy had a return on equity of 7.23% and a net margin of 3.26%. The business had revenue of C$107.97 million for the quarter, compared to analysts’ expectations of C$115.00 million.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 16th. Shareholders of record on Friday, June 29th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 5.03%. The ex-dividend date of this dividend is Thursday, June 28th. This is a positive change from Innergex Renewable Energy’s previous quarterly dividend of $0.17.

Innergex Renewable Energy Company Profile

Innergex Renewable Energy Inc operates as an independent renewable power producer. It develops, owns, and operates run-of-river hydroelectric facilities, wind farms, solar photovoltaic farms, and geothermal power facilities. The company operates through four segments: Hydroelectric Generation, Wind Power Generation, Solar Power Generation, and Site Development.

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