Innergex Renewable Energy (TSE:INE) had its target price raised by Raymond James from C$17.00 to C$17.50 in a research report released on Friday, BayStreet.CA reports. Raymond James also issued estimates for Innergex Renewable Energy’s Q2 2019 earnings at $0.09 EPS and Q3 2019 earnings at $0.03 EPS.
A number of other equities research analysts also recently issued reports on the stock. Desjardins reaffirmed a buy rating on shares of Savaria in a research note on Wednesday, April 24th. TD Securities dropped their target price on shares of Power Financial from C$35.00 to C$34.00 in a report on Thursday, May 16th. Finally, BMO Capital Markets reiterated a buy rating on shares of Gran Tierra Energy in a report on Wednesday, June 26th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has an average rating of Hold and a consensus price target of C$16.07.
TSE INE traded up C$0.06 during trading on Friday, hitting C$14.88. The stock had a trading volume of 102,400 shares, compared to its average volume of 263,522. Innergex Renewable Energy has a twelve month low of C$11.66 and a twelve month high of C$14.97. The company has a market capitalization of $1.99 billion and a P/E ratio of 74.03. The company has a debt-to-equity ratio of 520.90, a current ratio of 1.09 and a quick ratio of 0.17. The business’s 50 day moving average is C$14.35.
Innergex Renewable Energy (TSE:INE) last issued its quarterly earnings data on Tuesday, May 14th. The company reported C($0.12) earnings per share for the quarter, missing the Zacks’ consensus estimate of C($0.03) by C($0.09). The business had revenue of C$126.42 million during the quarter, compared to the consensus estimate of C$128.00 million. On average, equities research analysts forecast that Innergex Renewable Energy will post 0.43 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 4.70%. The ex-dividend date of this dividend was Thursday, June 27th. Innergex Renewable Energy’s payout ratio is 340.80%.
In other news, Director Daniel Lafrance purchased 2,000 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was acquired at an average cost of C$13.82 per share, with a total value of C$27,640.00. Following the completion of the transaction, the director now owns 35,000 shares in the company, valued at approximately C$483,700.
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 five segments: Hydroelectric Generation, Wind Power Generation, Solar Power Generation, Geothermal Generation, and Site Development.
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