Innergex Renewable Energy Inc (INE) Trading Down 4.9%

Shares of Innergex Renewable Energy Inc (TSE:INE) traded down 4.9% during mid-day trading on Tuesday . The stock traded as low as C$13.52 and last traded at C$14.02. 486,138 shares were traded during mid-day trading, an increase of 338% from the average session volume of 110,895 shares. The stock had previously closed at C$14.73.

Several analysts recently issued reports on the company. TD Securities raised their price target on Innergex Renewable Energy from C$15.00 to C$15.50 and gave the stock a “hold” rating in a report on Tuesday. BMO Capital Markets raised their price target on Innergex Renewable Energy from C$18.50 to C$19.00 in a report on Friday, September 8th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Innergex Renewable Energy has an average rating of “Hold” and an average target price of C$17.10.

The firm also recently announced a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were issued a $0.165 dividend. This is an increase from Innergex Renewable Energy’s previous quarterly dividend of $0.15. This represents a $0.66 annualized dividend and a dividend yield of 4.68%. The ex-dividend date of this dividend was Thursday, September 28th.

In other news, insider Jean Trudel sold 1,900 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of C$15.39, for a total value of C$29,241.00. Also, Director Monique Mercier bought 2,000 shares of Innergex Renewable Energy stock in a transaction dated Tuesday, August 8th. The stock was acquired at an average cost of C$14.34 per share, for a total transaction of C$28,680.00.

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Innergex Renewable Energy Company Profile

Innergex Renewable Energy Inc is a Canada-based renewable power producer. The Company is a developer, owner and operator of renewable power-generating facilities with a focus on hydroelectric, wind power and solar photovoltaic (PV) projects. It operates through four segments: hydroelectric generation, wind power generation, solar power generation and site development.

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