Innergex Renewable Energy (TSE:INE) Stock Price Passes Above 200 Day Moving Average of $9.23

Innergex Renewable Energy Inc. (TSE:INE) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$9.23 and traded as high as C$10.30. Innergex Renewable Energy shares last traded at C$10.23, with a volume of 465,941 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on INE. National Bankshares lifted their price target on shares of Innergex Renewable Energy from C$16.00 to C$17.00 and gave the company an “outperform” rating in a research report on Thursday, July 4th. Desjardins lifted their price target on shares of 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. Cormark downgraded shares of Innergex Renewable Energy from a “moderate buy” rating to a “hold” rating in a research report on Friday, August 9th. Cibc World Mkts raised shares of Innergex Renewable Energy to a “hold” rating in a research report on Monday, July 22nd. Finally, CIBC lifted their price objective on shares of Innergex Renewable Energy from C$11.00 to C$11.50 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$12.56.

Innergex Renewable Energy Stock Up 3.6 %

The company has a market capitalization of C$2.14 billion, a P/E ratio of -16.22, a PEG ratio of 20.61 and a beta of 0.34. 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 stock has a 50 day moving average price of C$9.57 and a 200 day moving average price of C$9.25.

Innergex Renewable Energy (TSE:INE) last released 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). The business had revenue of C$239.51 million for the quarter, compared to the consensus estimate of C$256.60 million. Innergex Renewable Energy had a negative return on equity of 9.27% and a negative net margin of 11.96%. Equities research analysts forecast that Innergex Renewable Energy Inc. will post 0.1533048 earnings per share for the current fiscal year.

Innergex Renewable Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 15th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date is Friday, September 27th. Innergex Renewable Energy’s dividend payout ratio is currently -55.38%.

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.