Innergex Renewable Energy (TSE:INE) Price Target Cut to C$9.50 by Analysts at Cormark

Innergex Renewable Energy (TSE:INE) had its price target decreased by Cormark from C$10.00 to C$9.50 in a research report report published on Thursday,BayStreet.CA reports.

Several other research firms have also recently issued reports on INE. CIBC reduced their price objective on shares of Innergex Renewable Energy from C$11.50 to C$11.00 in a research report on Thursday, November 7th. Scotiabank cut their target price on shares of Innergex Renewable Energy from C$11.50 to C$10.50 in a report on Thursday. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Innergex Renewable Energy has a consensus rating of “Moderate Buy” and a consensus target price of C$11.94.

Innergex Renewable Energy Trading Down 0.1 %

Innergex Renewable Energy stock opened at C$7.14 on Thursday. The stock has a market cap of C$1.45 billion, a P/E ratio of -10.98, a PEG ratio of 20.61 and a beta of 0.36. 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. The firm’s 50 day moving average price is C$8.15 and its 200-day moving average price is C$9.09.

Innergex Renewable Energy (TSE:INE) last released its quarterly earnings data on Wednesday, November 6th. The company reported C$0.05 earnings per share (EPS) for the quarter, beating 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 quarter in the previous year, the company earned $0.03 EPS. On average, equities analysts predict that Innergex Renewable Energy will post 0.1549878 earnings per share for the current fiscal year.

Innergex Renewable Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 5.04%. The ex-dividend date was Tuesday, December 31st. Innergex Renewable Energy’s payout ratio is -55.38%.

About Innergex Renewable Energy

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.