Innergex Renewable Energy (TSE:INE) Given New C$10.50 Price Target at Scotiabank

Innergex Renewable Energy (TSE:INE) had its price target cut by Scotiabank from C$11.50 to C$10.50 in a research report released on Thursday,BayStreet.CA reports.

Separately, CIBC cut their price target on shares of Innergex Renewable Energy from C$11.50 to C$11.00 in a research report on Thursday, November 7th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Innergex Renewable Energy has an average rating of “Moderate Buy” and a consensus target price of C$11.94.

Innergex Renewable Energy Stock Performance

Shares of Innergex Renewable Energy stock opened at C$7.14 on Thursday. 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 has a twelve month low of C$7.05 and a twelve month high of C$10.96. The stock has a market cap of C$1.45 billion, a price-to-earnings ratio of -10.98, a P/E/G ratio of 20.61 and a beta of 0.36. The company’s fifty day moving average is C$8.15 and its 200 day moving average is C$9.09.

Innergex Renewable Energy (TSE:INE) last issued its quarterly earnings data on Wednesday, November 6th. The company reported C$0.05 earnings per share for the quarter, topping the consensus estimate of C$0.03 by C$0.02. Innergex Renewable Energy had a negative net margin of 11.96% and a negative return on equity of 9.27%. During the same period in the previous year, the business earned $0.03 EPS. Sell-side analysts forecast that Innergex Renewable Energy will post 0.1549878 EPS for the current year.

Innergex Renewable Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.09 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 5.04%. 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.