Innergex Renewable Energy (OTCMKTS:INGXF) Share Price Crosses Above 50 Day Moving Average – Here’s Why

Innergex Renewable Energy Inc. (OTCMKTS:INGXF)’s stock price crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $7.32 and traded as high as $9.47. Innergex Renewable Energy shares last traded at $9.40, with a volume of 4,209 shares traded.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Raymond James lowered shares of Innergex Renewable Energy from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, February 25th. National Bank Financial lowered Innergex Renewable Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 25th.

Innergex Renewable Energy Trading Down 0.2 %

The firm’s 50 day moving average is $7.40 and its 200 day moving average is $6.75. The company has a market cap of $1.91 billion, a PE ratio of 314.00 and a beta of 0.56. The company has a debt-to-equity ratio of 4.50, a current ratio of 0.56 and a quick ratio of 0.56.

Innergex Renewable Energy (OTCMKTS:INGXF) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.22. Innergex Renewable Energy had a net margin of 1.84% and a return on equity of 4.40%. The business had revenue of $204.46 million during the quarter, compared to analyst estimates of $266.84 million. On average, equities analysts anticipate that Innergex Renewable Energy Inc. will post 0.09 earnings per share for the current year.

Innergex Renewable Energy Cuts Dividend

The business also recently declared a dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be given a dividend of $0.0624 per share. This represents a dividend yield of 2.64%. The ex-dividend date of this dividend is Monday, March 31st. Innergex Renewable Energy’s dividend payout ratio is currently 800.00%.

Innergex Renewable Energy Company Profile

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.