Innergex Renewable Energy (OTCMKTS:INGXF) Hits New 1-Year High – What’s Next?

Shares of Innergex Renewable Energy Inc. (OTCMKTS:INGXF) reached a new 52-week high on Thursday . The stock traded as high as $9.46 and last traded at $9.41, with a volume of 274837 shares trading hands. The stock had previously closed at $9.41.

Analysts Set New Price Targets

A number of equities analysts have recently commented on INGXF shares. National Bank Financial cut shares of Innergex Renewable Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 25th. Raymond James downgraded shares of Innergex Renewable Energy from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, February 25th.

Innergex Renewable Energy Trading Down 0.2 %

The firm has a market cap of $1.91 billion, a PE ratio of 313.00 and a beta of 0.56. The company has a debt-to-equity ratio of 4.50, a current ratio of 0.56 and a quick ratio of 0.56. The business has a 50-day moving average price of $6.09 and a two-hundred day moving average price of $6.44.

Innergex Renewable Energy (OTCMKTS:INGXF) last posted its earnings results on Thursday, February 20th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.22. Innergex Renewable Energy had a net margin of 1.84% and a return on equity of 4.40%. The firm had revenue of $204.46 million during the quarter, compared to the consensus estimate of $266.84 million. Analysts forecast that Innergex Renewable Energy Inc. will post 0.09 EPS for the current year.

Innergex Renewable Energy Cuts Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, January 15th. Investors of record on Wednesday, January 1st were given a dividend of $0.0649 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a dividend yield of 4.6%. Innergex Renewable Energy’s dividend payout ratio is currently 800.00%.

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.