Innergex Renewable Energy (TSE:INE) Given New C$23.00 Price Target at Cormark

Innergex Renewable Energy (TSE:INEGet Rating) had its price objective boosted by Cormark from C$21.00 to C$23.00 in a report released on Friday morning, MarketBeat Ratings reports.

A number of other research analysts have also recently commented on INE. TD Securities upgraded shares of Innergex Renewable Energy from a hold rating to a buy rating and cut their price target for the stock from C$21.00 to C$19.00 in a report on Thursday, May 12th. National Bankshares upped their price target on shares of Innergex Renewable Energy from C$23.00 to C$24.00 and gave the stock an outperform rating in a report on Thursday, July 28th. Credit Suisse Group cut their price target on shares of Innergex Renewable Energy from C$25.00 to C$24.00 and set an outperform rating on the stock in a report on Monday, July 25th. Raymond James set a C$24.00 price target on shares of Innergex Renewable Energy and gave the stock an outperform rating in a report on Thursday, May 12th. Finally, CSFB upped their price target on shares of Innergex Renewable Energy from C$24.00 to C$25.00 in a report on Wednesday, April 20th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of C$23.27.

Innergex Renewable Energy Trading Up 0.8 %

INE stock opened at C$19.42 on Friday. The company has a quick ratio of 0.44, a current ratio of 0.59 and a debt-to-equity ratio of 309.01. Innergex Renewable Energy has a twelve month low of C$15.89 and a twelve month high of C$22.03. The stock has a market capitalization of C$3.96 billion and a price-to-earnings ratio of -204.42. The firm’s fifty day simple moving average is C$18.04 and its two-hundred day simple moving average is C$18.16.

Innergex Renewable Energy (TSE:INEGet Rating) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported C($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of C$0.08 by C($0.09). The business had revenue of C$219.75 million for the quarter, compared to analyst estimates of C$224.95 million. As a group, analysts anticipate that Innergex Renewable Energy will post 0.4395424 earnings per share for the current year.

Innergex Renewable Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 3.71%. The ex-dividend date was Wednesday, June 29th. Innergex Renewable Energy’s payout ratio is -757.89%.

Insider Buying and Selling at Innergex Renewable Energy

In other news, Director Richard Gagnon purchased 1,520 shares of the firm’s stock in a transaction on Thursday, May 12th. The stock was acquired at an average cost of C$16.46 per share, with a total value of C$25,019.20. Following the completion of the transaction, the director now owns 5,170 shares in the company, valued at approximately C$85,098.20.

Innergex Renewable Energy Company Profile

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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 hydroelectric facilities, and wind and solar farms, as well as energy storage facilities. The company operates through three segments: Hydroelectric Power Generation, Wind Power Generation, and Solar Power Generation.

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Analyst Recommendations for Innergex Renewable Energy (TSE:INE)

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