Innergex Renewable Energy (INE) Stock Price, News & Analysis

Company Overview

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. As of February 21, 2024, it owned and operated 87 facilities with a net installed capacity of 3,600 megawatts, including 41 hydroelectric facilities, 35 wind facilities, 9 solar facilities, and 2 battery energy storage facilities. The company is headquartered in Longueuil, Canada.

Key Stats

• Today's Range: C$9.73 to C$10.06
• 50-Day Range: C$8.81 to C$10.68
• 52-Week Range: C$7.05 to C$10.96
• Volume: 477,459 shs
• Average Volume: 660,694 shs
• Market Capitalization: C$2.00 billion
• P/E Ratio: N/A
• Dividend Yield: 3.64%
• Price Target: C$12.56
• Consensus Rating: Moderate Buy

Innergex Renewable Energy Stock Analysis - MarketRank™

Innergex Renewable Energy scored higher than 50% of companies evaluated by MarketBeat. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 3.3 / 5
• Analyst Rating: Moderate Buy

Consensus Rating

Innergex Renewable Energy has received a consensus rating of Moderate Buy. The company's average rating score is 2.50, and is based on 5 buy ratings, 5 hold ratings, and no sell ratings.

Amount of Analyst Coverage

Innergex Renewable Energy has only been the subject of 4 research reports in the past 90 days.

Earnings and Valuation

• Score: 0.0 / 5
• Proj. Earnings Growth: N/A

Price to Earnings Ratio vs. the Market

The P/E ratio of Innergex Renewable Energy is -15.20, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

Price to Earnings Ratio vs. Sector

The P/E ratio of Innergex Renewable Energy is -15.20, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

Price to Earnings Growth Ratio

Innergex Renewable Energy has a PEG Ratio of 20.61. PEG Ratios above 1 indicate that a company could be overvalued.

Price to Book Value per Share Ratio

Innergex Renewable Energy has a P/B Ratio of 2.08. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

Short Interest

• Score: N/A
• Short Interest Level: N/A

Short Interest

There is no current short interest data available for INE.

Dividend

• Score: 1.7 / 5
• Dividend Strength: Weak

Dividend Leadership

Innergex Renewable Energy is a leading dividend payer. It pays a dividend yield of 3.70%, putting its dividend yield in the top 25% of dividend-paying stocks.

Dividend Growth

Innergex Renewable Energy does not have a long track record of dividend growth.

Sustainability and ESG

• Score: N/A
• Environmental Score: N/A

Short Interest

There is no current short interest data available for INE.

News and Social Media

• Score: 2.9 / 5
• News Sentiment: 1.17

News Sentiment

Innergex Renewable Energy has a news sentiment score of 1.17. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.50 average news sentiment score of Utilities companies.

News Coverage This Week

MarketBeat has tracked 4 news articles for Innergex Renewable Energy this week, compared to 2 articles on an average week.

Company Ownership

• Score: 1.7 / 5
• Insider Trading: N/A

Insider Buying vs. Insider Selling

In the past three months, Innergex Renewable Energy insiders have not sold or bought any company stock.

Percentage Held by Insiders

20.47% of the stock of Innergex Renewable Energy is held by insiders. A high percentage of insider ownership can be a sign of company health.

Percentage Held by Institutions

Only 35.57% of the stock of Innergex Renewable Energy is held by institutions.

INE Stock Analysis - Frequently Asked Questions

How have INE shares performed this year?

Innergex Renewable Energy's stock was trading at C$9.19 at the start of the year. Since then, INE shares have increased by 7.5% and is now trading at C$9.88.
View the best growth stocks for 2024 here.

How were Innergex Renewable Energy's earnings last quarter?

Innergex Renewable Energy Inc. (TSE:INE) issued its quarterly earnings results on Wednesday, August, 7th. The company reported ($0.03) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by $0.01. The firm had revenue of $239.51 million for the quarter, compared to analysts' expectations of $256.60 million. Innergex Renewable Energy had a negative trailing twelve-month return on equity of 9.27% and a negative net margin of 11.96%.

How do I buy shares of Innergex Renewable Energy?

Shares of INE stock and other Canadian stocks can be purchased through an online brokerage account. Popular online brokerages with access to the Canadian stock market include BMO InvestorLine, CIBC Investor's Edge, Desjardins Online Brokerage, HSBC InvestDirect, Laurentian Bank Discount Brokerage, National Bank Direct Brokerage, Qtrade Investor, Questrade, RBC Direct Investing, Scotia iTrade, TD Direct Investing, and Virtual Brokers.
Compare Top Brokerages Here.

What other stocks do shareholders of Innergex Renewable Energy own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Innergex Renewable Energy investors own include Enbridge (ENB), Bank of Nova Scotia (BNS), Enterprise Products Partners (EPD), TELUS (T), PayPal (PYPL), Arista Networks (ANET) and Algonquin Power & Utilities (AQN).

Company Calendar

• Last Earnings: 8/07/2024
• Ex-Dividend for 10/15 Dividend: 9/27/2024
• Dividend Payable: 10/15/2024
• Today: 10/17/2024
• Next Earnings (Confirmed): 11/06/2024

Industry, Sector and Symbol

• Stock Exchange: TSE
• Sector: Utilities
• Industry: Utilities - Renewable
• Sub-Industry: N/A
• Current Symbol: TSE:INE
• CUSIP: N/A
• CIK: N/A
• Web: www.innergex.com
• Phone: +1-450-9282550
• Fax: N/A
• Employees: 602
• Year Founded: N/A

Price Target and Rating

• Average Stock Price Target: C$12.56
• High Stock Price Target: C$17.00
• Low Stock Price Target: C$10.00
• Potential Upside/Downside: +27.2%
• Consensus Rating: Moderate Buy
• Rating Score (0-4): 2.50
• Research Coverage: 10 Analysts

Profitability

• EPS (Most Recent Fiscal Year): C($0.65)
• Trailing P/E Ratio: N/A
• Forward P/E Ratio: 63.75
• P/E Growth: 20.61
• Net Income: C$-131,970,000.00
• Net Margins: -11.96%
• Pretax Margin: N/A
• Return on Equity: -9.27%
• Return on Assets: 2.25%

Debt

• Debt-to-Equity Ratio: 428.86
• Current Ratio: 0.57
• Quick Ratio: 0.58

Sales & Book Value

• Annual Sales: C$1.06 billion
• Price / Sales: 1.89
• Cash Flow: C$0.61 per share
• Price / Cash Flow: 16.11
• Book Value: C$4.76 per share
• Price / Book: 2.08

Miscellaneous

• Outstanding Shares: 202,740,000
• Free Float: N/A
• Market Cap: C$2.00 billion
• Optionable: Not Optionable
• Beta: 0.36