Innergex Renewable Energy Inc. (TSE:INE) Receives Average Rating of “Moderate Buy” from Analysts

Innergex Renewable Energy Inc. (TSE:INE) has been assigned a consensus rating of “Moderate Buy” from the nine brokerages that are presently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is C$11.94.

INE has been the topic of a number of analyst reports. Cormark reduced their target price on shares of Innergex Renewable Energy from C$10.00 to C$9.50 in a research note on Thursday, January 30th. National Bankshares dropped their price target on shares of Innergex Renewable Energy from C$17.00 to C$16.00 and set an “outperform” rating for the company in a research report on Tuesday, February 11th. CIBC dropped their price target on shares of Innergex Renewable Energy from C$11.50 to C$11.00 in a research report on Thursday, November 7th. Finally, Scotiabank dropped their price target on shares of Innergex Renewable Energy from C$11.50 to C$10.50 in a research report on Thursday, January 30th.

Innergex Renewable Energy Price Performance

Shares of INE stock opened at C$7.46 on Friday. The company has a debt-to-equity ratio of 620.44, a current ratio of 0.56 and a quick ratio of 0.58. The firm’s 50-day moving average is C$7.80 and its two-hundred day moving average is C$8.82. Innergex Renewable Energy has a 12 month low of C$6.98 and a 12 month high of C$10.96. The company has a market capitalization of C$1.53 billion, a PE ratio of -11.96, a price-to-earnings-growth ratio of 20.61 and a beta of 0.36.

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.