Brokerages Set Innergex Renewable Energy Inc. (TSE:INE) Target Price at C$12.38

Shares of Innergex Renewable Energy Inc. (TSE:INE) have earned an average recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is C$12.38.

INE has been the topic of a number of recent research reports. CIBC cut their price objective on Innergex Renewable Energy from C$11.50 to C$11.00 in a research report on Thursday, November 7th. Cormark lowered Innergex Renewable Energy from a “moderate buy” rating to a “hold” rating in a research report on Friday, August 9th. Scotiabank cut their target price on shares of Innergex Renewable Energy from C$12.50 to C$11.50 in a research note on Thursday, November 7th. Finally, BMO Capital Markets increased their price objective on shares of Innergex Renewable Energy from C$11.00 to C$11.50 in a research report on Thursday, September 5th.

Innergex Renewable Energy Trading Down 0.8 %

Shares of INE stock opened at C$8.49 on Friday. The stock has a market capitalization of C$1.72 billion, a P/E ratio of -13.54, a price-to-earnings-growth ratio of 20.61 and a beta of 0.36. Innergex Renewable Energy has a fifty-two week low of C$7.05 and a fifty-two week high of C$10.96. The company has a debt-to-equity ratio of 428.86, a quick ratio of 0.58 and a current ratio of 0.57. The company has a 50 day moving average price of C$9.33 and a 200 day moving average price of C$9.61.

Innergex Renewable Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.09 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 4.24%. Innergex Renewable Energy’s dividend payout ratio (DPR) is presently -55.38%.

About Innergex Renewable Energy

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.