Innergex Renewable Energy Inc. to Issue Quarterly Dividend of $0.09 (TSE:INE)

Innergex Renewable Energy Inc. (TSE:INE - Get Free Report) announced a quarterly dividend on Monday, March 31st, TickerTech Dividends reports. Shareholders of record on Tuesday, April 15th will be paid a dividend of 0.09 per share on Tuesday, April 15th. This represents a $0.36 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend is Monday, March 31st.

Innergex Renewable Energy Stock Performance

Shares of Innergex Renewable Energy stock remained flat at C$13.52 on Wednesday. The company's stock had a trading volume of 278,364 shares, compared to its average volume of 1,222,221. The business has a 50 day moving average price of C$10.63 and a 200-day moving average price of C$9.54. The firm has a market cap of C$2.77 billion, a P/E ratio of -21.68, a P/E/G ratio of 20.61 and a beta of 0.36. The company has a quick ratio of 0.58, a current ratio of 0.56 and a debt-to-equity ratio of 620.44. Innergex Renewable Energy has a 52-week low of C$6.98 and a 52-week high of C$13.63.

Wall Street Analyst Weigh In

A number of research firms have commented on INE. Desjardins cut shares of Innergex Renewable Energy from a "buy" rating to a "tender" rating and reduced their price target for the stock from C$14.50 to C$13.75 in a report on Wednesday, February 26th. Raymond James downgraded Innergex Renewable Energy from an "outperform" rating to a "market perform" rating and raised their target price for the company from C$11.50 to C$13.75 in a research note on Wednesday, February 26th. National Bank Financial downgraded Innergex Renewable Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 25th. TD Securities boosted their price objective on Innergex Renewable Energy from C$8.00 to C$9.00 and gave the company a "hold" rating in a report on Friday, February 21st. Finally, Scotiabank lowered their target price on Innergex Renewable Energy from C$11.50 to C$10.50 in a research report on Thursday, January 30th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of C$11.59.

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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.