Innergex Renewable Energy (TSE:INE – Get Free Report) had its target price increased by BMO Capital Markets from C$11.00 to C$11.50 in a report released on Thursday, BayStreet.CA reports. BMO Capital Markets’ target price indicates a potential upside of 27.35% from the stock’s previous close.
Several other analysts have also commented on the stock. TD Securities lowered shares of Innergex Renewable Energy from a “buy” rating to a “hold” rating and set a C$10.00 price target on the stock. in a research report on Friday, July 26th. National Bankshares raised their price target on Innergex Renewable Energy from C$16.00 to C$17.00 and gave the stock an “outperform” rating in a research report on Thursday, July 4th. Cibc World Mkts raised Innergex Renewable Energy to a “hold” rating in a report on Monday, July 22nd. Desjardins upped their price objective on Innergex Renewable Energy from C$13.00 to C$14.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. Finally, CIBC lifted their price objective on Innergex Renewable Energy from C$11.00 to C$11.50 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Innergex Renewable Energy currently has an average rating of “Moderate Buy” and an average target price of C$12.56.
Check Out Our Latest Stock Report on Innergex Renewable Energy
Innergex Renewable Energy Stock Down 0.2 %
Innergex Renewable Energy (TSE:INE – Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The company reported C($0.03) EPS for the quarter, missing the consensus estimate of C($0.02) by C($0.01). Innergex Renewable Energy had a negative return on equity of 9.27% and a negative net margin of 11.96%. The business had revenue of C$239.51 million during the quarter, compared to analysts’ expectations of C$256.60 million. Analysts predict that Innergex Renewable Energy will post 0.0799919 EPS for the current fiscal year.
Insider Buying and Selling at Innergex Renewable Energy
In related news, Director Patrick Loulou acquired 11,000 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were acquired at an average cost of C$10.25 per share, for a total transaction of C$112,750.00. 20.45% of the stock is owned by company insiders.
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.
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