Innergex Renewable Energy (TSE:INE) Price Target Raised to C$9.00

Innergex Renewable Energy (TSE:INE) had its target price upped by investment analysts at TD Securities from C$8.00 to C$9.00 in a report issued on Friday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. TD Securities’ target price points to a potential upside of 0.22% from the stock’s previous close.

A number of other equities research analysts also recently commented on INE. CIBC reduced their price objective on shares of Innergex Renewable Energy from C$11.50 to C$11.00 in a research report on Thursday, November 7th. Cormark decreased their price objective on shares of Innergex Renewable Energy from C$10.00 to C$9.50 in a report on Thursday, January 30th. Scotiabank dropped their price objective on shares of Innergex Renewable Energy from C$11.50 to C$10.50 in a report on Thursday, January 30th. Finally, National Bankshares lowered their price target on shares of Innergex Renewable Energy from C$17.00 to C$16.00 and set an “outperform” rating for the company in a report on Tuesday, February 11th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Innergex Renewable Energy has a consensus rating of “Moderate Buy” and a consensus target price of C$11.81.

Innergex Renewable Energy Stock Performance

Shares of INE stock traded up C$0.46 during mid-day trading on Friday, hitting C$8.98. 686,531 shares of the stock were exchanged, compared to its average volume of 646,909. The stock’s fifty day simple moving average is C$7.78 and its two-hundred day simple moving average is C$8.80. The stock has a market capitalization of C$1.84 billion, a price-to-earnings ratio of -14.40, a P/E/G ratio of 20.61 and a beta of 0.36. Innergex Renewable Energy has a 12-month low of C$6.98 and a 12-month high of C$10.96. The company has a debt-to-equity ratio of 620.44, a quick ratio of 0.58 and a current ratio of 0.56.

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.