Cormark cut shares of Innergex Renewable Energy (TSE:INE – Free Report) from a moderate buy rating to a hold rating in a research note published on Friday, Zacks.com reports.
Several other research analysts have also recently weighed in on the stock. National Bankshares upped their price objective on shares of Innergex Renewable Energy from C$16.00 to C$17.00 and gave the stock an outperform rating in a research report on Thursday, July 4th. TD Securities lowered Innergex Renewable Energy from a buy rating to a hold rating and set a C$10.00 target price for the company. in a research note on Friday, July 26th. Scotiabank increased their price objective on Innergex Renewable Energy from C$10.50 to C$12.50 and gave the company an outperform rating in a research note on Wednesday, June 12th. Cibc World Mkts raised Innergex Renewable Energy to a hold rating in a research note on Monday, July 22nd. Finally, Desjardins boosted their price objective on shares of Innergex Renewable Energy from C$13.00 to C$14.00 and gave the company a buy rating in a research report on Thursday, June 6th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Innergex Renewable Energy has a consensus rating of Moderate Buy and a consensus price target of C$12.25.
Check Out Our Latest Analysis on INE
Innergex Renewable Energy Stock Down 0.6 %
Innergex Renewable Energy (TSE:INE – Get Free Report) last announced its quarterly earnings data on Wednesday, May 8th. The company reported C($0.11) earnings per share for the quarter, meeting the consensus estimate of C($0.11). Innergex Renewable Energy had a negative return on equity of 10.13% and a negative net margin of 11.78%. The business had revenue of C$242.54 million during the quarter, compared to analyst estimates of C$240.80 million. As a group, sell-side analysts forecast that Innergex Renewable Energy will post 0.0799919 earnings per share for the current fiscal year.
Innergex Renewable Energy Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.74%. Innergex Renewable Energy’s dividend payout ratio is -56.25%.
Insider Buying and Selling at Innergex Renewable Energy
In other Innergex Renewable Energy news, Director Patrick Loulou purchased 11,000 shares of the stock in a transaction dated Thursday, June 20th. The stock was purchased at an average price of C$10.25 per share, with a total value of C$112,750.00. 20.44% of the stock is owned by corporate insiders.
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.
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