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

Shares of Innergex Renewable Energy Inc. (TSE:INE) have received an average rating of “Moderate Buy” from the ten ratings firms that are covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is C$12.38.

INE has been the subject of a number of analyst reports. CIBC cut their price target on Innergex Renewable Energy from C$11.50 to C$11.00 in a research note on Thursday, November 7th. BMO Capital Markets increased their target price on Innergex Renewable Energy from C$11.00 to C$11.50 in a research report on Thursday, September 5th. Finally, Scotiabank decreased their target price on Innergex Renewable Energy from C$12.50 to C$11.50 in a research note on Thursday, November 7th.

Innergex Renewable Energy Price Performance

The stock has a market capitalization of C$1.71 billion, a PE ratio of -12.97, a PEG ratio of 20.61 and a beta of 0.36. Innergex Renewable Energy has a 52 week low of C$7.05 and a 52 week high of C$10.96. The stock has a 50-day moving average price of C$9.27 and a two-hundred day moving average price of C$9.61. The company has a current ratio of 0.57, a quick ratio of 0.58 and a debt-to-equity ratio of 428.86.

Innergex Renewable Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of ∞. The ex-dividend date is Tuesday, December 31st. Innergex Renewable Energy’s dividend payout ratio is presently -55.38%.

About Innergex Renewable Energy

For over 30 years, Innergex has believed in a world where abundant renewable energy promotes healthier communities and creates shared prosperity, which led to Innergex being recognized as Canada’s best corporate citizens in 2023 by Corporate Knights. As an independent renewable power producer which develops, acquires, owns and operates hydroelectric facilities, wind farms, solar farms and energy storage facilities, Innergex is convinced that generating power from renewable sources will lead the way to a better world.