Innergex Renewable Energy Inc. (TSE:INE – Get Free Report) has been given an average recommendation of “Moderate Buy” by the ten ratings firms that are currently covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is C$12.56.
Several research analysts recently commented on INE shares. Cibc World Mkts raised Innergex Renewable Energy to a “hold” rating in a research note on Monday, July 22nd. 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. CIBC boosted their target price on Innergex Renewable Energy from C$11.00 to C$11.50 and gave the company a “neutral” rating in a report on Monday, July 22nd. National Bankshares boosted 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. Finally, Cormark downgraded Innergex Renewable Energy from a “moderate buy” rating to a “hold” rating in a research note on Friday, August 9th.
Check Out Our Latest Report on Innergex Renewable Energy
Innergex Renewable Energy Stock Performance
Innergex Renewable Energy (TSE:INE – Get Free Report) last posted 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 business had revenue of C$239.51 million during the quarter, compared to analysts’ expectations of C$256.60 million. As a group, equities research analysts anticipate that Innergex Renewable Energy will post 0.149517 EPS for the current fiscal year.
Innergex Renewable Energy Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 15th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date is Friday, September 27th. Innergex Renewable Energy’s dividend payout ratio is currently -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.
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