Innergex Renewable Energy Inc. (TSE:INE) Given Consensus Recommendation of “Moderate Buy” by Analysts

Innergex Renewable Energy Inc. (TSE:INE) has received a consensus rating of “Moderate Buy” from the seven research firms that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is C$12.59.

A number of equities research analysts have recently issued reports on INE shares. Desjardins cut their price target on shares of Innergex Renewable Energy from C$14.50 to C$14.00 and set a “buy” rating on the stock in a report on Friday, February 23rd. CIBC boosted their price target on shares of Innergex Renewable Energy from C$9.00 to C$9.50 and gave the company a “neutral” rating in a report on Friday, February 23rd. Royal Bank of Canada cut their price target on shares of Innergex Renewable Energy from C$13.00 to C$11.00 and set a “sector perform” rating on the stock in a report on Monday, February 12th. TD Securities cut their price target on shares of Innergex Renewable Energy from C$12.00 to C$10.00 and set a “buy” rating on the stock in a report on Wednesday, February 14th. Finally, National Bankshares boosted their price target on shares of Innergex Renewable Energy from C$15.75 to C$17.00 and gave the company an “outperform” rating in a report on Tuesday, January 9th.

Innergex Renewable Energy Stock Down 0.4 %

INE stock opened at C$7.94 on Friday. Innergex Renewable Energy has a 12 month low of C$7.05 and a 12 month high of C$14.40. The firm has a market cap of C$1.62 billion, a PE ratio of -15.57, a P/E/G ratio of 20.61 and a beta of 0.35. The firm has a 50 day simple moving average of C$8.04 and a 200 day simple moving average of C$8.76. The company has a debt-to-equity ratio of 544.43, a current ratio of 0.92 and a quick ratio of 0.58.

Innergex Renewable Energy (TSE:INE) last released its earnings results on Wednesday, February 21st. The company reported C($0.03) EPS for the quarter, beating the consensus estimate of C($0.04) by C$0.01. Innergex Renewable Energy had a negative net margin of 9.45% and a negative return on equity of 7.86%. The business had revenue of C$261.53 million during the quarter, compared to analyst estimates of C$264.85 million. Equities research analysts forecast that Innergex Renewable Energy will post 0.0799919 earnings per share for the current fiscal year.

Innergex Renewable Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 15th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date of this dividend was Wednesday, March 27th. Innergex Renewable Energy’s dividend payout ratio (DPR) is presently -70.59%.

Insider Buying and Selling at Innergex Renewable Energy

In related news, Director Daniel Lafrance purchased 5,000 shares of Innergex Renewable Energy stock in a transaction on Wednesday, March 13th. The stock was purchased at an average cost of C$8.35 per share, with a total value of C$41,750.00. In other Innergex Renewable Energy news, Senior Officer Jean Trudel acquired 13,000 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was bought at an average price of C$7.68 per share, for a total transaction of C$99,840.00. Also, Director Daniel Lafrance acquired 5,000 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was acquired at an average price of C$8.35 per share, with a total value of C$41,750.00. Insiders purchased a total of 22,125 shares of company stock valued at $174,975 in the last ninety days. Company insiders own 20.41% of the company’s stock.

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.