Innergex Renewable Energy Inc. (TSE:INE) Given Average Recommendation of “Moderate Buy” by Analysts

Innergex Renewable Energy Inc. (TSE:INE) has been assigned an average recommendation of “Moderate Buy” from the seven analysts that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is C$12.59.

A number of brokerages have recently issued reports on INE. TD Securities dropped their target price on Innergex Renewable Energy from C$12.00 to C$10.00 and set a “buy” rating for the company in a report on Wednesday, February 14th. Desjardins dropped their target price on Innergex Renewable Energy from C$14.50 to C$14.00 and set a “buy” rating for the company in a report on Friday, February 23rd. CIBC increased their target price on Innergex Renewable Energy from C$9.00 to C$9.50 and gave the stock a “neutral” rating in a report on Friday, February 23rd. Royal Bank of Canada dropped their target price on Innergex Renewable Energy from C$13.00 to C$11.00 and set a “sector perform” rating for the company in a report on Monday, February 12th. Finally, National Bankshares increased their target price on Innergex Renewable Energy from C$15.75 to C$17.00 and gave the stock an “outperform” rating in a report on Tuesday, January 9th.

Insider Buying and Selling

In other news, Director Richard Gagnon acquired 3,125 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were purchased at an average cost of C$8.13 per share, for a total transaction of C$25,408.75. In other news, Director Daniel Lafrance acquired 5,000 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were purchased at an average cost of C$8.35 per share, for a total transaction of C$41,750.00. Also, Director Richard Gagnon acquired 3,125 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was purchased at an average price of C$8.13 per share, for a total transaction of C$25,408.75. Insiders have acquired a total of 22,125 shares of company stock worth $174,975 in the last three months. Insiders own 20.41% of the company’s stock.

Innergex Renewable Energy Trading Up 1.0 %

Innergex Renewable Energy stock opened at C$8.19 on Friday. The business has a 50 day moving average price of C$8.02 and a two-hundred day moving average price of C$8.77. The company has a quick ratio of 0.58, a current ratio of 0.92 and a debt-to-equity ratio of 544.43. The stock has a market cap of C$1.67 billion, a price-to-earnings ratio of -16.06, a price-to-earnings-growth ratio of 20.61 and a beta of 0.35. Innergex Renewable Energy has a 12 month low of C$7.05 and a 12 month high of C$14.40.

Innergex Renewable Energy (TSE:INE) last posted its quarterly earnings results on Wednesday, February 21st. The company reported C($0.03) EPS for the quarter, beating the consensus estimate of C($0.04) by C$0.01. The firm had revenue of C$261.53 million during the quarter, compared to analysts’ expectations of C$264.85 million. Innergex Renewable Energy had a negative return on equity of 7.86% and a negative net margin of 9.45%. As a group, equities analysts forecast that Innergex Renewable Energy will post 0.0799919 EPS for the current year.

Innergex Renewable Energy Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 15th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.36 dividend on an annualized basis and a yield of 4.40%. Innergex Renewable Energy’s dividend payout ratio (DPR) is presently -70.59%.

Innergex Renewable Energy Company Profile

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.