Innergex Renewable Energy Inc. (TSE:INE – Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$9.46 and traded as high as C$9.94. Innergex Renewable Energy shares last traded at C$9.85, with a volume of 368,921 shares trading hands.
Analyst Ratings Changes
Several research firms have commented on INE. CIBC boosted their target price on Innergex Renewable Energy from C$11.00 to C$11.50 and gave the company a “neutral” rating in a research note on Monday, July 22nd. BMO Capital Markets boosted their target price on Innergex Renewable Energy from C$11.00 to C$11.50 in a research note on Thursday, September 5th. Cibc World Mkts upgraded Innergex Renewable Energy to a “hold” rating in a research note on Monday, July 22nd. Cormark cut Innergex Renewable Energy from a “moderate buy” rating to a “hold” rating in a research note on Friday, August 9th. Finally, TD Securities cut Innergex Renewable Energy from a “buy” rating to a “hold” rating and set a C$10.00 target price on the stock. in a research note on Friday, July 26th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$12.56.
Innergex Renewable Energy Trading Down 0.9 %
Innergex Renewable Energy (TSE:INE – Get Free Report) last posted its earnings results on Wednesday, August 7th. The company reported C($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of C($0.02) by C($0.01). The business had revenue of C$239.51 million for the quarter, compared to analyst estimates 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%. Analysts forecast that Innergex Renewable Energy Inc. will post 0.1549878 earnings per share for the current fiscal year.
Innergex Renewable Energy Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 15th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date of this dividend was Friday, September 27th. Innergex Renewable Energy’s payout ratio is presently -55.38%.
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.
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