Innergex Renewable Energy (TSE:INE) Given New C$11.50 Price Target at BMO Capital Markets

Innergex Renewable Energy (TSE:INE) had its target price upped by analysts at BMO Capital Markets from C$11.00 to C$11.50 in a research report issued on Thursday, BayStreet.CA reports. BMO Capital Markets’ target price would indicate a potential upside of 25.00% from the stock’s previous close.

A number of other analysts have also recently weighed in on INE. National Bankshares raised their target price on shares of Innergex Renewable Energy from C$16.00 to C$17.00 and gave the stock an “outperform” rating in a report on Thursday, July 4th. Desjardins boosted their target price on Innergex Renewable Energy from C$13.00 to C$14.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Cibc World Mkts raised Innergex Renewable Energy to a “hold” rating in a research note on Monday, July 22nd. Cormark downgraded Innergex Renewable Energy from a “moderate buy” rating to a “hold” rating in a report on Friday, August 9th. Finally, TD Securities cut shares of Innergex Renewable Energy from a “buy” rating to a “hold” rating and set a C$10.00 target price for the company. in a report on Friday, July 26th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$12.56.

Innergex Renewable Energy Price Performance

Innergex Renewable Energy stock traded up C$0.02 during trading hours on Thursday, hitting C$9.20. 97,630 shares of the company traded hands, compared to its average volume of 684,031. Innergex Renewable Energy has a 1-year low of C$7.05 and a 1-year high of C$12.77. The firm has a market cap of C$1.87 billion, a P/E ratio of -14.15, a P/E/G ratio of 20.61 and a beta of 0.34. The firm’s 50-day simple moving average is C$9.76 and its two-hundred day simple moving average is C$9.07. The company has a quick ratio of 0.58, a current ratio of 0.57 and a debt-to-equity ratio of 428.86.

Innergex Renewable Energy (TSE:INE) last posted its quarterly earnings data on Wednesday, August 7th. The company reported C($0.03) EPS for the quarter, missing analysts’ consensus estimates of C($0.02) by C($0.01). The company had revenue of C$239.51 million for the quarter, compared to analyst estimates of C$256.60 million. Innergex Renewable Energy had a negative net margin of 11.96% and a negative return on equity of 9.27%. As a group, analysts forecast that Innergex Renewable Energy will post 0.0799919 earnings per share for the current fiscal year.

Insider Activity at Innergex Renewable Energy

In other Innergex Renewable Energy news, Director Patrick Loulou acquired 11,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was purchased at an average cost of C$10.25 per share, for a total transaction of C$112,750.00. Insiders own 20.45% of the company’s stock.

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.