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

Shares of Innergex Renewable Energy Inc. (TSE:INE) have earned a consensus recommendation of “Moderate Buy” from the ten research firms that are covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is C$12.38.

A number of equities analysts have recently commented on the stock. Scotiabank cut their price objective on shares of Innergex Renewable Energy from C$12.50 to C$11.50 in a research report on Thursday, November 7th. CIBC lowered their price objective on shares of Innergex Renewable Energy from C$11.50 to C$11.00 in a report on Thursday, November 7th.

Innergex Renewable Energy Price Performance

INE opened at C$8.20 on Monday. The firm has a 50-day moving average price of C$8.36 and a 200-day moving average price of C$9.27. 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 company has a market capitalization of C$1.66 billion, a price-to-earnings ratio of -12.62, a PEG ratio of 20.61 and a beta of 0.36.

Innergex Renewable Energy Announces Dividend

The company 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. This represents a $0.36 annualized dividend and a yield of 4.39%. The ex-dividend date was Tuesday, December 31st. Innergex Renewable Energy’s dividend payout ratio is -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.