Innergex Renewable Energy Inc. (OTCMKTS:INGXF - Get Free Report) was the target of a large decrease in short interest during the month of February. As of February 28th, there was short interest totalling 1,590,300 shares, a decrease of 28.4% from the February 13th total of 2,222,200 shares. Based on an average daily trading volume, of 205,200 shares, the days-to-cover ratio is presently 7.8 days. Approximately 0.8% of the company's stock are short sold.
Innergex Renewable Energy Stock Performance
Shares of INGXF stock traded down $0.01 on Thursday, hitting $9.46. 365 shares of the stock were exchanged, compared to its average volume of 76,676. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 4.50. The firm has a market capitalization of $1.92 billion, a PE ratio of 315.37 and a beta of 0.56. Innergex Renewable Energy has a one year low of $4.81 and a one year high of $9.48. The firm's 50 day moving average is $6.77 and its two-hundred day moving average is $6.60.
Innergex Renewable Energy (OTCMKTS:INGXF - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.01) by $0.22. The business had revenue of $204.46 million for the quarter, compared to analysts' expectations of $266.84 million. Innergex Renewable Energy had a return on equity of 4.40% and a net margin of 1.84%. Sell-side analysts expect that Innergex Renewable Energy will post 0.09 earnings per share for the current fiscal year.
Innergex Renewable Energy Cuts Dividend
The firm also recently declared a dividend, which was paid on Wednesday, January 15th. Shareholders of record on Wednesday, January 1st were issued a $0.0649 dividend. The ex-dividend date was Tuesday, December 31st. This represents a dividend yield of 4.6%. Innergex Renewable Energy's payout ratio is currently 800.00%.
Analysts Set New Price Targets
A number of research analysts have issued reports on INGXF shares. Raymond James downgraded Innergex Renewable Energy from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, February 25th. National Bank Financial downgraded Innergex Renewable Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 25th.
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About Innergex Renewable Energy
(
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Innergex Renewable Energy Inc operates as an independent renewable power producer in Canada, the United States, France, and Chile. It acquires, owns, develops, and operates renewable power-generating and energy storage facilities primarily in hydroelectric, wind, and solar power sectors. The company operates through three segments: Hydroelectric Power Generation, Wind Power Generation, and Solar Power Generation.
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