Innergex Renewable Energy (TSE:INE) Stock Passes Above Two Hundred Day Moving Average of $8.73

Innergex Renewable Energy Inc. (TSE:INE)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$8.73 and traded as high as C$10.65. Innergex Renewable Energy shares last traded at C$10.59, with a volume of 221,364 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. CIBC raised their price objective on Innergex Renewable Energy from C$10.00 to C$11.00 and gave the company a “neutral” rating in a research note on Wednesday, June 12th. Raymond James dropped their price objective on Innergex Renewable Energy from C$15.00 to C$13.00 and set an “outperform” rating on the stock in a research note on Thursday, February 22nd. Scotiabank lifted their target price on Innergex Renewable Energy from C$10.50 to C$12.50 and gave the stock an “outperform” rating in a research note on Wednesday, June 12th. BMO Capital Markets lowered their target price on Innergex Renewable Energy from C$10.00 to C$9.00 and set an “outperform” rating on the stock in a research note on Thursday, February 22nd. Finally, Desjardins lifted their target price on Innergex Renewable Energy from C$13.00 to C$14.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$12.06.

Innergex Renewable Energy Stock Down 3.3 %

The stock has a 50 day moving average of C$9.07 and a 200-day moving average of C$8.74. The firm has a market capitalization of C$2.08 billion, a P/E ratio of -16.00, a PEG ratio of 20.61 and a beta of 0.34. The company has a debt-to-equity ratio of 546.12, a quick ratio of 0.58 and a current ratio of 0.74.

Innergex Renewable Energy (TSE:INE) last announced its quarterly earnings data on Wednesday, May 8th. The company reported C($0.11) earnings per share (EPS) 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 business had revenue of C$242.54 million for the quarter, compared to analysts’ expectations of C$240.80 million. Research analysts predict that Innergex Renewable Energy Inc. will post 0.0799919 earnings per share for the current fiscal year.

Innergex Renewable Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 15th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date is Friday, June 28th. Innergex Renewable Energy’s payout ratio is presently -56.25%.

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.