Analysts have given Innergex Renewable Energy Inc. (TSE:INE) a consensus rating of “Moderate Buy”

Innergex Renewable Energy Inc. (TSE:INE – Get Free Report) has received an average rating of “Moderate Buy” from eight brokerage firms that cover the stock, reports MarketBeat Ratings. Two analysts have rated the stock with a Hold rating, while six have given it a Buy rating. The average 1-year price target among analysts who have covered the stock in the last year is CAD12.06.

Several equities analysts have recently issued reports on shares of INE. National Bankshares raised their price target on shares of Innergex Renewable Energy from CAD $15.00 to CAD $16.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 28. Scotiabank raised their price target on shares of Innergex Renewable Energy from CAD $10.50 to CAD $12.50 and gave the stock an “outperform” rating in a research note on Wednesday, June 12. Desjardins raised his price target on shares of Innergex Renewable Energy from CAD $13.00 to CAD $14.00 and gave the stock a “buy” rating in a report on Thursday, June 6. Finally, CIBC raised their price target on shares of Innergex Renewable Energy from CAD $10.00 to CAD $11.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 12.

Check out our latest stock analysis on Innergex Renewable Energy

Innergex Renewable Energy stock performance

INE shares opened at CAD10.44 on Thursday. The company has a market capitalization of CAD2.12 billion, a P/E ratio of -16.31, a P/E/G ratio of 20.61 and a beta of 0.34. The company’s 50 day moving average is CAD9.48 and its 200 day moving average is CAD8.81. The company has a current ratio of 0.74, a current ratio of 0.58 and a debt-to-equity ratio of 546.12. Innergex Renewable Energy has a 12-month low of CAD7.05 and a 12-month high of CAD13.44.

Innergex Renewable Energy (TSE:INE – Get Free Report) last released its quarterly earnings data on Wednesday, May 8th. The company reported C($0.11) EPS for the quarter, meeting analysts’ consensus estimates of C($0.11). Innergex Renewable Energy had a negative net margin of 11.78% and a negative return on equity of 10.13%. The company had revenue of CAD$242.54 million for the quarter, compared to the consensus estimate of CAD$240.80 million. Analysts expect Innergex Renewable Energy to post 0.0799919 EPS for the current fiscal year.

Innergex Renewable Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15. Investors of record on Monday, July 15 will receive a dividend of $0.09. This represents a $0.36 annualized dividend and a yield of 3.45%. The ex-dividend date is Friday, June 28. The Innergex Renewable Energy payout ratio is currently -56.25%.

Internal Activity at Innergex Renewable Energy

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

About Innergex Renewable Energy

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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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