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

Innergex Renewable Energy Inc. (TSE:INE) has received a consensus rating of “Moderate Buy” from the ten research firms that are covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is C$12.38.

Several equities analysts have issued reports on the company. CIBC cut their target price on Innergex Renewable Energy from C$11.50 to C$11.00 in a research note on Thursday, November 7th. Scotiabank cut their target price on Innergex Renewable Energy from C$12.50 to C$11.50 in a research note on Thursday, November 7th.

Innergex Renewable Energy Price Performance

INE opened at C$8.20 on Monday. The business’s 50-day moving average is C$8.36 and its two-hundred day moving average is C$9.27. Innergex Renewable Energy has a 1 year low of C$7.05 and a 1 year high of C$10.96. The company has a debt-to-equity ratio of 428.86, a current ratio of 0.57 and a quick ratio of 0.58. The firm has a market capitalization of C$1.66 billion, a PE ratio of -12.62, a price-to-earnings-growth ratio of 20.61 and a beta of 0.36.

Innergex Renewable Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 4.39%. The ex-dividend date was Tuesday, December 31st. Innergex Renewable Energy’s dividend payout ratio is presently -55.38%.

Innergex Renewable Energy Company Profile

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.