Innergex Renewable Energy Inc. (TSE:INE) Receives Average Recommendation of "Moderate Buy" from Brokerages

Shares of Innergex Renewable Energy Inc. (TSE:INE - Get Free Report) have been given a consensus rating of "Moderate Buy" by the nine analysts that are currently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is C$11.94.

Several brokerages have recently weighed in on INE. Scotiabank decreased their price target on Innergex Renewable Energy from C$11.50 to C$10.50 in a research report on Thursday, January 30th. Cormark lowered their target price on shares of Innergex Renewable Energy from C$10.00 to C$9.50 in a research note on Thursday, January 30th. CIBC cut 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, National Bankshares decreased their price target on shares of Innergex Renewable Energy from C$17.00 to C$16.00 and set an "outperform" rating on the stock in a report on Tuesday, February 11th.

Innergex Renewable Energy Stock Performance

Shares of INE traded up C$0.12 during trading hours on Friday, hitting C$7.45. The company's stock had a trading volume of 474,389 shares, compared to its average volume of 614,202. The business has a 50 day simple moving average of C$7.82 and a two-hundred day simple moving average of C$8.83. Innergex Renewable Energy has a 52-week low of C$6.98 and a 52-week high of C$10.96. The company has a debt-to-equity ratio of 620.44, a current ratio of 0.56 and a quick ratio of 0.58. The company has a market cap of C$1.53 billion, a price-to-earnings ratio of -11.95, a PEG ratio of 20.61 and a beta of 0.36.

Innergex Renewable Energy Company Profile

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.