Innergex Renewable Energy (TSE:INE) PT Lowered to C$13.00

Innergex Renewable Energy (TSE:INE) had its target price lowered by investment analysts at Desjardins from C$14.00 to C$13.00 in a note issued to investors on Tuesday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Desjardins’ price target would suggest a potential upside of 62.30% from the company’s current price.

Other analysts also recently issued research reports about the stock. BMO Capital Markets decreased their price objective on shares of Innergex Renewable Energy from C$10.00 to C$9.00 and set an “outperform” rating for the company in a report on Thursday, February 22nd. CIBC lifted their target price on shares of Innergex Renewable Energy from C$9.00 to C$9.50 and gave the stock a “neutral” rating in a research note on Friday, February 23rd. National Bankshares lifted their target price on shares of Innergex Renewable Energy from C$15.75 to C$17.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 9th. Royal Bank of Canada reduced their target price on shares of Innergex Renewable Energy from C$13.00 to C$11.00 and set a “sector perform” rating for the company in a research note on Monday, February 12th. Finally, Raymond James cut their price objective on shares of Innergex Renewable Energy from C$15.00 to C$13.00 and set an “outperform” rating for the company in a research report on Thursday, February 22nd. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$12.47.

Innergex Renewable Energy Stock Performance

TSE INE traded up C$0.02 during trading hours on Tuesday, reaching C$8.01. 141,212 shares of the company were exchanged, compared to its average volume of 768,839. Innergex Renewable Energy has a 1 year low of C$7.05 and a 1 year high of C$14.40. The business’s 50 day simple moving average is C$8.07 and its 200-day simple moving average is C$8.71. 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 capitalization of C$1.64 billion, a P/E ratio of -15.71, a P/E/G ratio of 20.61 and a beta of 0.35.

Innergex Renewable Energy (TSE:INE) last posted its quarterly earnings data on Wednesday, February 21st. The company reported C($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C($0.04) by C$0.01. Innergex Renewable Energy had a negative net margin of 9.45% and a negative return on equity of 7.86%. The business had revenue of C$261.53 million during the quarter, compared to the consensus estimate of C$264.85 million. On average, equities research analysts expect that Innergex Renewable Energy will post 0.0799919 earnings per share for the current year.

Insider Buying and Selling at Innergex Renewable Energy

In related news, Senior Officer Jean Trudel bought 13,000 shares of the company’s stock in a transaction on Monday, February 26th. The stock was acquired at an average cost of C$7.68 per share, for a total transaction of C$99,840.00. In related news, Senior Officer Jean Trudel bought 13,000 shares of the company’s stock in a transaction on Monday, February 26th. The stock was acquired at an average cost of C$7.68 per share, for a total transaction of C$99,840.00. Also, Director Richard Gagnon bought 3,125 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were bought at an average price of C$8.13 per share, with a total value of C$25,408.75. Insiders purchased a total of 22,125 shares of company stock worth $174,975 over the last three months. 20.41% of the stock is owned by insiders.

About Innergex Renewable Energy

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.