Brokerages Set Innergex Renewable Energy Inc. (TSE:INE) PT at C$11.59

Innergex Renewable Energy Inc. (TSE:INE - Get Free Report) has been assigned a consensus recommendation of "Hold" from the eight research firms that are covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is C$11.59.

Several research firms have recently commented on INE. Cormark reduced their price target on shares of Innergex Renewable Energy from C$10.00 to C$9.50 in a report on Thursday, January 30th. Desjardins downgraded Innergex Renewable Energy from a "buy" rating to a "tender" rating and dropped their target price for the stock from C$14.50 to C$13.75 in a research note on Wednesday, February 26th. Scotiabank cut their price objective on shares of Innergex Renewable Energy from C$11.50 to C$10.50 in a report on Thursday, January 30th. TD Securities lifted their price objective on shares of Innergex Renewable Energy from C$8.00 to C$9.00 and gave the stock a "hold" rating in a research note on Friday, February 21st. Finally, Raymond James downgraded Innergex Renewable Energy from an "outperform" rating to a "market perform" rating and boosted their price target for the company from C$11.50 to C$13.75 in a research note on Wednesday, February 26th.

Innergex Renewable Energy Price Performance

Shares of TSE INE traded down C$0.01 during midday trading on Wednesday, reaching C$13.53. 52,656 shares of the stock traded hands, compared to its average volume of 1,160,903. The company's 50 day moving average is C$13.51 and its 200 day moving average is C$10.16. Innergex Renewable Energy has a one year low of C$6.98 and a one year high of C$13.63. The stock has a market capitalization of C$2.77 billion, a PE ratio of -21.70, a P/E/G ratio of 20.61 and a beta of 0.36. The company has a debt-to-equity ratio of 620.44, a current ratio of 0.56 and a quick ratio of 0.58.

Innergex Renewable Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 15th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date was Monday, March 31st. Innergex Renewable Energy's dividend payout ratio is presently -57.74%.

About Innergex Renewable Energy

For over 30 years, Innergex has believed in a world where abundant renewable energy promotes healthier communities and creates shared prosperity, which led to Innergex being recognized as Canada's best corporate citizens in 2023 by Corporate Knights. As an independent renewable power producer which develops, acquires, owns and operates hydroelectric facilities, wind farms, solar farms and energy storage facilities, Innergex is convinced that generating power from renewable sources will lead the way to a better world.