Innergex Renewable Energy Inc. (TSE:INE) Given Average Recommendation of “Moderate Buy” by Analysts

Innergex Renewable Energy Inc. (TSE:INE) has been given an average recommendation of “Moderate Buy” by the ten research firms that are covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is C$12.38.

Several analysts have commented on the company. BMO Capital Markets upped their price objective on Innergex Renewable Energy from C$11.00 to C$11.50 in a research note on Thursday, September 5th. CIBC decreased their price target on Innergex Renewable Energy from C$11.50 to C$11.00 in a report on Thursday, November 7th. Finally, Scotiabank lowered their price objective on shares of Innergex Renewable Energy from C$12.50 to C$11.50 in a research report on Thursday, November 7th.

Innergex Renewable Energy Trading Up 1.4 %

TSE INE opened at C$8.24 on Thursday. The firm’s fifty day moving average is C$8.86 and its two-hundred day moving average is C$9.55. Innergex Renewable Energy has a one year low of C$7.05 and a one year 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 firm has a market cap of C$1.67 billion, a PE ratio of -12.68, a P/E/G ratio of 20.61 and a beta of 0.36.

Innergex Renewable Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.09 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.36 annualized dividend and a dividend yield of 4.37%. Innergex Renewable Energy’s payout ratio is currently -55.38%.

About Innergex Renewable Energy

For over 30 years, Innergex has believed in a world where abundant renewable energy promotes healthier communities and creates shared prosperity, which led to Innergex being recognized as Canada’s best corporate citizens in 2023 by Corporate Knights. As an independent renewable power producer which develops, acquires, owns and operates hydroelectric facilities, wind farms, solar farms and energy storage facilities, Innergex is convinced that generating power from renewable sources will lead the way to a better world.