Innergex Renewable Energy Inc. (TSE:INE) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Innergex Renewable Energy Inc. (TSE:INE) have received a consensus recommendation of “Moderate Buy” from the ten analysts that are presently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is C$12.56.

A number of equities analysts have issued reports on the stock. Cormark cut shares of Innergex Renewable Energy from a “moderate buy” rating to a “hold” rating in a research note on Friday, August 9th. CIBC raised their price objective on shares of 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. TD Securities cut shares of Innergex Renewable Energy from a “buy” rating to a “hold” rating and set a C$10.00 price objective on the stock. in a research note on Friday, July 26th. BMO Capital Markets raised their price objective on shares of Innergex Renewable Energy from C$11.00 to C$11.50 in a research note on Thursday, September 5th. Finally, Cibc World Mkts raised shares of Innergex Renewable Energy to a “hold” rating in a research note on Monday, July 22nd.

Innergex Renewable Energy Stock Performance

Shares of Innergex Renewable Energy stock opened at C$9.17 on Wednesday. The company has a debt-to-equity ratio of 428.86, a current ratio of 0.57 and a quick ratio of 0.58. The firm has a market cap of C$1.86 billion, a P/E ratio of -14.11, a P/E/G ratio of 20.61 and a beta of 0.36. The firm has a 50 day simple moving average of C$9.64 and a 200 day simple moving average of C$9.54. Innergex Renewable Energy has a fifty-two week low of C$7.05 and a fifty-two week high of C$10.96.

Innergex Renewable Energy (TSE:INE) last issued its quarterly 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 company had revenue of C$239.51 million during the quarter, compared to analyst estimates of C$256.60 million. Innergex Renewable Energy had a negative net margin of 11.96% and a negative return on equity of 9.27%. Sell-side 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 declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 15th were given a dividend of $0.09 per share. The ex-dividend date was Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.93%. Innergex Renewable Energy’s dividend payout ratio is -55.38%.

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.