Innergex Renewable Energy Inc. (TSE:INE) Given Average Rating of "Moderate Buy" by Analysts

Innergex Renewable Energy Inc. (TSE:INE - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the ten brokerages that are presently covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is C$12.38.

Several brokerages have commented on INE. BMO Capital Markets lifted 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. CIBC lowered their price target on shares of Innergex Renewable Energy from C$11.50 to C$11.00 in a report on Thursday, November 7th. Finally, Scotiabank cut their price target on Innergex Renewable Energy from C$12.50 to C$11.50 in a research report on Thursday, November 7th.

Innergex Renewable Energy Stock Performance

Shares of TSE:INE traded up C$0.11 during trading on Thursday, hitting C$8.24. The stock had a trading volume of 229,467 shares, compared to its average volume of 632,087. The stock has a 50-day simple moving average of C$8.83 and a two-hundred day simple moving average of C$9.54. The stock has a market capitalization of C$1.67 billion, a price-to-earnings ratio of -12.68, a price-to-earnings-growth ratio of 20.61 and a beta of 0.36. Innergex Renewable Energy has a 12-month low of C$7.05 and a 12-month high of C$10.96. The company has a quick ratio of 0.58, a current ratio of 0.57 and a debt-to-equity ratio of 428.86.

Innergex Renewable Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.09 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.36 annualized dividend and a dividend yield of 4.37%. Innergex Renewable Energy's dividend payout ratio is presently -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.