Innergex Renewable Energy (OTCMKTS:INGXF) Sets New 12-Month High – Still a Buy?

Innergex Renewable Energy Inc. (OTCMKTS:INGXF)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $9.47 and last traded at $9.46, with a volume of 1619 shares changing hands. The stock had previously closed at $9.39.

Analyst Ratings Changes

INGXF has been the topic of a number of recent analyst reports. National Bank Financial cut shares of Innergex Renewable Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Raymond James lowered shares of Innergex Renewable Energy from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, February 25th.

Innergex Renewable Energy Trading Up 0.2 %

The firm has a market cap of $1.92 billion, a PE ratio of 315.83 and a beta of 0.56. The business has a 50-day moving average price of $6.62 and a two-hundred day moving average price of $6.56. The company has a debt-to-equity ratio of 4.50, a current ratio of 0.56 and a quick ratio of 0.56.

Innergex Renewable Energy (OTCMKTS:INGXF) last announced its earnings results on Thursday, February 20th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.22. Innergex Renewable Energy had a return on equity of 4.40% and a net margin of 1.84%. The firm had revenue of $204.46 million for the quarter, compared to analysts’ expectations of $266.84 million. Analysts forecast that Innergex Renewable Energy Inc. will post 0.09 EPS for the current year.

Innergex Renewable Energy Cuts Dividend

The company also recently announced a dividend, which was paid on Wednesday, January 15th. Shareholders of record on Wednesday, January 1st were paid a $0.0649 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a yield of 4.6%. Innergex Renewable Energy’s payout ratio is currently 800.00%.

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.