Innergex Renewable Energy Inc. (TSE:INE – Get Rating) – Equities researchers at Cormark issued their FY2022 earnings per share estimates for shares of Innergex Renewable Energy in a report issued on Monday, June 20th. Cormark analyst N. Boychuk expects that the company will earn $0.06 per share for the year. The consensus estimate for Innergex Renewable Energy’s current full-year earnings is $0.34 per share. Cormark also issued estimates for Innergex Renewable Energy’s FY2023 earnings at $0.51 EPS.
INE has been the topic of several other reports. Raymond James set a C$24.00 price target on Innergex Renewable Energy and gave the stock an “outperform” rating in a research report on Thursday, May 12th. TD Securities upgraded Innergex Renewable Energy from a “hold” rating to a “buy” rating and cut their price objective for the stock from C$21.00 to C$19.00 in a research report on Thursday, May 12th. CSFB lifted their price objective on Innergex Renewable Energy from C$24.00 to C$25.00 in a research report on Wednesday, April 20th. Finally, Credit Suisse Group lifted their price target on Innergex Renewable Energy from C$24.00 to C$25.00 and gave the company an “outperform” rating in a research report on Wednesday, April 20th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$23.48.
Innergex Renewable Energy (TSE:INE – Get Rating) last released its quarterly earnings results on Tuesday, May 10th. The company reported C($0.02) earnings per share for the quarter, beating the consensus estimate of C($0.04) by C$0.02. The business had revenue of C$188.72 million during the quarter, compared to analysts’ expectations of C$181.30 million.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be given a $0.18 dividend. The ex-dividend date is Wednesday, June 29th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.04%. Innergex Renewable Energy’s dividend payout ratio is currently -757.89%.
In related news, Director Richard Gagnon acquired 1,520 shares of the firm’s stock in a transaction on Thursday, May 12th. The shares were acquired at an average cost of C$16.46 per share, for a total transaction of C$25,019.20. Following the completion of the transaction, the director now directly owns 5,170 shares in the company, valued at approximately C$85,098.20.
About Innergex Renewable Energy (Get Rating)
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 hydroelectric facilities, and wind and solar farms, as well as energy storage facilities. The company operates through three segments: Hydroelectric Power Generation, Wind Power Generation, and Solar Power Generation.
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