Analysts at National Bankshares have raised their target price on Innergex Renewable Energy (TSE:INE) shares to CAD 17.00

Innergex Renewable Energy (TSE:INE – Free Report) National Bankshares raised its price target from C$16.00 to C$17.00 in a research note issued to investors on Thursday, BayStreet.CA reports. National Bankshares currently has an “outform” rating on the stock.

Several other brokerages have also recently commented on INE. 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 stock an Outperform rating in a report on Wednesday, June 12. Finally, Desjardins raised his 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 report on Thursday, June 6. Two equities research analysts have rated the stock a “hold,” while six have given the stock a Buy rating. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$12.19.

See our latest stock analysis on INE

Innergex Renewable Energy stock performance

TSE:INE opened at CAD10.67 on Thursday. The company has a market capitalization of CAD2.17 billion, a P/E ratio of -16.67, a price-to-earnings-growth ratio of 20.61 and a beta of 0.34. Innergex Renewable Energy has a twelve-month low of CAD7.05 and a twelve-month high of CAD13.44. The company has a current quick ratio of 0.74, a current ratio of 0.58 and a debt-to-equity ratio of 546.12. The company has a 50-day moving average price of CAD9.53 and a two-hundred-day moving average price of CAD8.83.

Innergex Renewable Energy (TSE:INE – Get Free Report) last released its quarterly financial results on Wednesday, May 8. The company reported C($0.11) EPS for the quarter, which met the analyst consensus estimate of C($0.11). The company had revenue of C$242.54 million for the quarter, compared to the consensus estimate of C$240.80 million. Innergex Renewable Energy had a negative net margin of 11.78% and a negative return on equity of 10.13%. Research analysts expect Innergex Renewable Energy to post 0.0799919 earnings per share 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. The ex-dividend date is Friday, June 28. This represents an annual dividend of $0.36 and a dividend yield of 3.37%. The dividend payout ratio for Innergex Renewable Energy is currently -56.25%.

Insider Buying and Selling at Innergex Renewable Energy

In other Innergex Renewable Energy news, Director Patrick Loulou bought 11,000 shares of Innergex Renewable Energy stock in a transaction on 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. 20.44% of the stock is currently owned by corporate insiders.

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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