Innergex Renewable Energy Inc. (INE) To Go Ex-Dividend on December 31st

Innergex Renewable Energy Inc. (TSE:INE) announced a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Shareholders of record on Tuesday, December 31st will be paid a dividend of 0.09 per share on Wednesday, January 15th. This represents a $0.36 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend is Tuesday, December 31st.

Innergex Renewable Energy Stock Down 1.8 %

Shares of INE opened at C$8.84 on Friday. The firm has a market cap of C$1.79 billion, a P/E ratio of -13.60, a P/E/G ratio of 20.61 and a beta of 0.36. The stock has a 50 day simple moving average of C$9.62 and a two-hundred day simple moving average of C$9.56. The company has a debt-to-equity ratio of 428.86, a current ratio of 0.57 and a quick ratio of 0.58. Innergex Renewable Energy has a 1 year low of C$7.05 and a 1 year high of C$10.96.

Innergex Renewable Energy (TSE:INE) last issued its earnings results on Wednesday, August 7th. The company reported C($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.02) by C($0.01). The firm had revenue of C$239.51 million during the quarter, compared to analysts’ expectations of C$256.60 million. Innergex Renewable Energy had a negative return on equity of 9.27% and a negative net margin of 11.96%. On average, analysts forecast that Innergex Renewable Energy will post 0.1549878 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Cormark lowered Innergex Renewable Energy from a “moderate buy” rating to a “hold” rating in a research note on Friday, August 9th. CIBC decreased their target price on Innergex Renewable Energy from C$11.50 to C$11.00 in a report on Thursday. Scotiabank decreased their price objective on Innergex Renewable Energy from C$12.50 to C$11.50 in a report on Thursday. Cibc World Mkts upgraded Innergex Renewable Energy to a “hold” rating in a report on Monday, July 22nd. Finally, BMO Capital Markets raised their price target on Innergex Renewable Energy from C$11.00 to C$11.50 in a report on Thursday, September 5th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of C$12.38.

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.