Innergex Renewable Energy (TSE:INE) stock is trading above its 200-day moving average of $8.80

The Innergex Renewable Energy Inc. (TSE:INE – Get Free Report) share price broke above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of C$8.80 and was trading as high as C$10.52. The Innergex Renewable Energy stock was last trading at C$10.23 on volume of 693,218 shares.

Analysts set new price targets

Several equity research analysts have commented on the stock. National Bankshares raised their price target on shares of Innergex Renewable Energy from C$15.00 to C$16.00 and gave the stock an “outperform” rating in a report on Tuesday, May 28. CIBC raised their price target on shares of Innergex Renewable Energy from C$10.00 to C$11.00 and gave the stock a “neutral” rating in a report on Wednesday, June 12. Scotiabank raised their price target on shares of Innergex Renewable Energy from C$10.50 to C$12.50 and gave the company an “outperform” rating in a research note on Wednesday, June 12. Finally, Desjardins raised their price target on shares of Innergex Renewable Energy from C$13.00 to C$14.00 and gave the stock a “buy” rating in a research report on Thursday, June 6. Two research analysts have rated the stock a “hold” and six have given it a “buy” rating. The company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$12.06, according to data from MarketBeat.com.

See our latest stock market report on INE

Innergex Renewable Energy shares fall 1.8%

The company has a debt-to-equity ratio of 546.12, a current ratio of 0.58 and a current ratio of 0.74. The stock’s 50-day moving average price is CAD9.39 and its 200-day moving average is CAD8.80. The company has a market capitalization of CAD2.08 billion, a P/E ratio of -15.98, a PEG ratio of 20.61 and a beta of 0.34.

Innergex Renewable Energy (TSE:INE – Get Free Report) last released its earnings results on Wednesday, May 8. The company reported C($0.11) earnings per share for the quarter, meeting analysts’ consensus estimates of C($0.11). Innergex Renewable Energy had a negative return on equity of 10.13% and a negative net margin of 11.78%. The company had revenue of CAD$242.54 million for the quarter, compared to analysts’ estimates of CAD$240.80 million. On average, analysts predict that Innergex Renewable Energy Inc. will post earnings per share of CAD$0.0799919 for the current year.

Innergex Renewable Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15. Shareholders of record on Monday, July 15 will receive a dividend of $0.09 per share. This represents an annual dividend of $0.36 and a dividend yield of 3.52%. The ex-dividend date is Friday, June 28. The Dividend Payout Ratio (DPR) for Innergex Renewable Energy is -56.25%.

Buying and selling confidential information

In other Innergex Renewable Energy news, Director Patrick Loulou bought 11,000 shares of the company’s stock in a transaction that occurred on Thursday, June 20. The shares were purchased at an average price of C$10.25 per share, for a total transaction value of C$112,750.00. Insiders own 20.44% of the stock.

Company Profile Innergex Renewable Energy

(Download the free report)

Innergex Renewable Energy Inc operates as an independent renewable energy producer in Canada, the United States, France and Chile. It acquires, owns, develops and operates renewable energy generation and energy storage facilities, primarily in the hydroelectric, wind and solar sectors. The company operates in three segments: Hydroelectric Power Generation, Wind Power Generation and Solar Power Generation.

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