Innergex Renewable Energy Inc. (TSE:INE) to Issue Quarterly Dividend of $0.09

Innergex Renewable Energy Inc. (TSE:INE) declared a quarterly dividend on Friday, September 27th, Zacks reports. Shareholders of record on Tuesday, October 15th will be given a dividend of 0.09 per share on Tuesday, October 15th. This represents a $0.36 annualized dividend and a yield of 3.54%. The ex-dividend date of this dividend is Friday, September 27th.

Innergex Renewable Energy Trading Down 0.6 %

Innergex Renewable Energy stock opened at C$10.17 on Thursday. Innergex Renewable Energy has a 12 month low of C$7.05 and a 12 month high of C$11.83. The company has a quick ratio of 0.58, a current ratio of 0.57 and a debt-to-equity ratio of 428.86. The stock has a market cap of C$2.06 billion, a P/E ratio of -15.65, a P/E/G ratio of 20.61 and a beta of 0.34. The company’s fifty day simple moving average is C$9.57 and its 200-day simple moving average is C$9.24.

Innergex Renewable Energy (TSE:INE) last issued its earnings results on Wednesday, August 7th. The company reported C($0.03) EPS for the quarter, missing analysts’ consensus estimates of C($0.02) by C($0.01). Innergex Renewable Energy had a negative net margin of 11.96% and a negative return on equity of 9.27%. The firm had revenue of C$239.51 million during the quarter, compared to analysts’ expectations of C$256.60 million. As a group, sell-side analysts forecast that Innergex Renewable Energy will post 0.1533048 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on INE. Scotiabank boosted their target price on shares of Innergex Renewable Energy from C$10.50 to C$12.50 and gave the stock an “outperform” rating in a research report on Wednesday, June 12th. National Bankshares raised their target price on Innergex Renewable Energy from C$16.00 to C$17.00 and gave the company an “outperform” rating in a report on Thursday, July 4th. CIBC upped their price target on Innergex Renewable Energy from C$11.00 to C$11.50 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Desjardins increased their price objective on Innergex Renewable Energy from C$13.00 to C$14.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Finally, BMO Capital Markets boosted their target price on Innergex Renewable Energy from C$11.00 to C$11.50 in a report on Thursday, September 5th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Innergex Renewable Energy has an average rating of “Moderate Buy” and a consensus price target of C$12.56.

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.