Innergex Renewable Energy Inc Announces Quarterly Dividend of $0.18 (TSE:INE)

Innergex Renewable Energy Inc (TSE:INE) announced a quarterly dividend on Tuesday, May 14th, Zacks reports. Stockholders of record on Friday, June 28th will be paid a dividend of 0.175 per share on Monday, July 15th. This represents a $0.70 annualized dividend and a dividend yield of 4.95%. The ex-dividend date of this dividend is Thursday, June 27th.

Shares of TSE INE traded down C$0.06 during trading on Tuesday, hitting C$14.14. 33,318 shares of the company traded hands, compared to its average volume of 272,558. Innergex Renewable Energy has a 1 year low of C$11.66 and a 1 year high of C$14.75. The stock has a 50-day moving average of C$14.06. The company has a market cap of $1.84 billion and a price-to-earnings ratio of 70.30. The company has a debt-to-equity ratio of 534.40, a current ratio of 1.09 and a quick ratio of 0.17.

Innergex Renewable Energy (TSE:INE) last announced its quarterly earnings data on Tuesday, May 14th. The company reported C($0.12) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of C($0.03) by C($0.09). The firm had revenue of C$126.42 million for the quarter, compared to the consensus estimate of C$128.00 million. On average, research analysts predict that Innergex Renewable Energy will post 0.3897271 EPS for the current fiscal year.

In related news, Director Daniel Lafrance acquired 2,000 shares of the stock in a transaction dated Thursday, May 16th. The stock was bought at an average cost of C$13.82 per share, with a total value of C$27,640.00. Following the purchase, the director now directly owns 35,000 shares of the company’s stock, valued at C$483,700.

Several analysts have recently issued reports on the stock. TD Securities lowered their price objective on shares of Innergex Renewable Energy from C$16.00 to C$15.50 and set a “hold” rating for the company in a research note on Thursday, May 16th. Desjardins reissued an “average” rating and set a C$15.50 price objective on shares of Innergex Renewable Energy in a research note on Wednesday, April 24th. Finally, Raymond James reissued an “outperform” rating and set a C$17.00 price objective on shares of Innergex Renewable Energy in a research note on Tuesday, April 16th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Innergex Renewable Energy has an average rating of “Hold” and a consensus target price of C$15.86.

About Innergex Renewable Energy

Innergex Renewable Energy Inc operates as an independent renewable power producer. It develops, owns, and operates run-of-river hydroelectric facilities, wind farms, solar photovoltaic farms, and geothermal power facilities. The company operates through five segments: Hydroelectric Generation, Wind Power Generation, Solar Power Generation, Geothermal Generation, and Site Development.

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Dividend History for Innergex Renewable Energy (TSE:INE)

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