Innergex Renewable Energy (OTCMKTS:INGXF) Shares Pass Above 50 Day Moving Average of $13.97

Innergex Renewable Energy Inc. (OTCMKTS:INGXF – Get Rating) shares crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $13.97 and traded as high as $15.06. Innergex Renewable Energy shares last traded at $14.98, with a volume of 5,525 shares trading hands.

Wall Street Analyst Weigh In

INGXF has been the topic of several research analyst reports. TD Securities raised Innergex Renewable Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, May 11th. Desjardins reduced their target price on Innergex Renewable Energy from C$20.50 to C$20.00 in a research note on Thursday, May 12th. Finally, National Bank Financial upped their price target on Innergex Renewable Energy from C$23.00 to C$24.00 in a research note on Thursday, July 28th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $22.39.

Innergex Renewable Energy Stock Down 0.4 %

The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 3.03. The company has a fifty day simple moving average of $13.99 and a 200 day simple moving average of $14.21. The firm has a market capitalization of $3.05 billion, a P/E ratio of -43.88 and a beta of 0.51.

Innergex Renewable Energy (OTCMKTS:INGXF – Get Rating) last released its earnings results on Tuesday, May 10th. The company reported ($0.01) EPS for the quarter. Innergex Renewable Energy had a negative return on equity of 0.16% and a negative net margin of 9.83%. The company had revenue of $148.99 million during the quarter.

Innergex Renewable Energy Cuts Dividend

The firm also recently declared a dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were issued a dividend of $0.1383 per share. This represents a dividend yield of 4.12%. The ex-dividend date was Wednesday, June 29th. Innergex Renewable Energy’s payout ratio is currently -167.64%.

About Innergex Renewable Energy

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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 hydroelectric facilities, and wind and solar farms, as well as energy storage facilities. The company operates through three segments: Hydroelectric Power Generation, Wind Power Generation, and Solar Power Generation.