Innergex Renewable Energy Inc (TSE:INE) Receives Consensus Rating of “Buy” from Brokerages

Shares of Innergex Renewable Energy Inc (TSE:INE) have received an average rating of “Buy” from the seven ratings firms that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is C$19.93.

A number of equities research analysts recently issued reports on INE shares. Royal Bank of Canada increased their price objective on Innergex Renewable Energy from C$17.00 to C$22.00 and gave the stock a “sector perform” rating in a research report on Monday, February 10th. Raymond James reiterated an “outperform” rating and issued a C$17.50 price objective on shares of Innergex Renewable Energy in a research report on Thursday, November 14th. BMO Capital Markets upgraded Innergex Renewable Energy from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from C$17.00 to C$20.00 in a research report on Monday, January 13th. TD Securities increased their price objective on Innergex Renewable Energy from C$18.00 to C$22.00 and gave the stock a “hold” rating in a research report on Friday, February 7th. Finally, CIBC increased their price objective on Innergex Renewable Energy from C$18.00 to C$20.00 in a research report on Friday, February 7th.

Shares of INE stock traded down C$0.32 on Friday, reaching C$20.84. The company’s stock had a trading volume of 663,728 shares, compared to its average volume of 438,192. The company has a quick ratio of 0.42, a current ratio of 0.56 and a debt-to-equity ratio of 414.46. Innergex Renewable Energy has a 12-month low of C$13.61 and a 12-month high of C$22.28. The company has a market capitalization of $3.79 billion and a P/E ratio of 101.17. The stock’s 50 day simple moving average is C$19.56 and its 200-day simple moving average is C$16.96.

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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Analyst Recommendations for Innergex Renewable Energy (TSE:INE)

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