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

Shares of Innergex Renewable Energy Inc. (TSE:INE - Get Free Report) have been assigned an average recommendation of "Hold" from the eight ratings firms that are presently covering the stock, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is C$11.59.

A number of research firms have weighed in on INE. National Bankshares cut Innergex Renewable Energy from an "outperform" rating to a "sector perform" rating and cut their price target for the company from C$16.00 to C$13.75 in a research note on Wednesday, February 26th. Desjardins cut Innergex Renewable Energy from a "buy" rating to a "tender" rating and cut their price objective for the stock from C$14.50 to C$13.75 in a research report on Wednesday, February 26th. TD Securities upped their target price on shares of Innergex Renewable Energy from C$8.00 to C$9.00 and gave the stock a "hold" rating in a research report on Friday, February 21st. Raymond James downgraded shares of Innergex Renewable Energy from an "outperform" rating to a "market perform" rating and lifted their price target for the company from C$11.50 to C$13.75 in a research report on Wednesday, February 26th. Finally, Cormark lowered their price target on Innergex Renewable Energy from C$10.00 to C$9.50 in a report on Thursday, January 30th.

Innergex Renewable Energy Stock Down 0.2 %

Shares of TSE INE traded down C$0.03 during mid-day trading on Friday, hitting C$13.49. The company had a trading volume of 171,620 shares, compared to its average volume of 1,239,698. Innergex Renewable Energy has a 1-year low of C$6.98 and a 1-year high of C$13.63. The company has a market capitalization of C$2.77 billion, a PE ratio of -21.64, a price-to-earnings-growth ratio of 20.61 and a beta of 0.36. 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 business's 50-day simple moving average is C$11.60 and its 200 day simple moving average is C$9.76.

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Innergex Renewable Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 15th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date is Monday, March 31st. Innergex Renewable Energy's payout ratio is -57.74%.

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.