Innergex Renewable Energy Inc. (TSE:INE) Declares Quarterly Dividend of $0.09

Innergex Renewable Energy Inc. (TSE:INE) declared a quarterly dividend on Monday, March 31st, TickerTech Dividends reports. Investors of record on Tuesday, April 15th will be given a dividend of 0.09 per share on Tuesday, April 15th. This represents a $0.36 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend is Monday, March 31st.

Innergex Renewable Energy Stock Performance

TSE:INE remained flat at C$13.57 during trading hours on Friday. The company’s stock had a trading volume of 571,412 shares, compared to its average volume of 1,257,442. Innergex Renewable Energy has a 12 month low of C$6.98 and a 12 month high of C$13.63. The firm has a market capitalization of C$2.78 billion, a P/E ratio of -21.76, a P/E/G ratio of 20.61 and a beta of 0.36. The business’s 50-day moving average price is C$10.41 and its 200-day moving average price is C$9.47. The company has a current ratio of 0.56, a quick ratio of 0.58 and a debt-to-equity ratio of 620.44.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on INE shares. Scotiabank cut their price objective on shares of Innergex Renewable Energy from C$11.50 to C$10.50 in a research report on Thursday, January 30th. Raymond James lowered shares of Innergex Renewable Energy from an “outperform” rating to a “market perform” rating and lifted their price target for the company from C$11.50 to C$13.75 in a research report on Wednesday, February 26th. Cormark cut their target price on Innergex Renewable Energy from C$10.00 to C$9.50 in a research note on Thursday, January 30th. National Bank Financial lowered Innergex Renewable Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, National Bankshares cut Innergex Renewable Energy from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from C$16.00 to C$13.75 in a report on Wednesday, February 26th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of C$11.59.

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.