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

Shares of Innergex Renewable Energy Inc. (TSE:INE - Get Free Report) have been assigned a consensus recommendation of "Hold" from the eight analysts that are presently covering the firm, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is C$11.59.

A number of equities analysts have commented on INE shares. Desjardins cut Innergex Renewable Energy from a "buy" rating to a "tender" rating and decreased their price target for the stock from C$14.50 to C$13.75 in a research note on Wednesday, February 26th. National Bank Financial lowered Innergex Renewable Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Cormark cut their price objective on Innergex Renewable Energy from C$10.00 to C$9.50 in a research report on Thursday, January 30th. Scotiabank cut their price objective on Innergex Renewable Energy from C$11.50 to C$10.50 in a research report on Thursday, January 30th. Finally, Raymond James lowered Innergex Renewable Energy from an "outperform" rating to a "market perform" rating and lifted their price objective for the stock from C$11.50 to C$13.75 in a research report on Wednesday, February 26th.

Innergex Renewable Energy Trading Up 0.1 %

Innergex Renewable Energy stock traded up C$0.01 during trading hours on Tuesday, reaching C$13.50. The company had a trading volume of 874,176 shares, compared to its average volume of 1,276,983. 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 50-day moving average price of C$9.18 and a 200 day moving average price of C$9.15. The firm has a market cap of C$2.77 billion, a price-to-earnings ratio of -21.65, a P/E/G ratio of 20.61 and a beta of 0.36. Innergex Renewable Energy has a 12-month low of C$6.98 and a 12-month high of C$13.60.

Remove Ads

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.