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Innergex Renewable Energy Inc. (TSE:INE) Receives C$11.59 Consensus PT from Analysts

Innergex Renewable Energy logo with Utilities background

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

Several brokerages have commented on INE. National Bank Financial lowered shares of Innergex Renewable Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Scotiabank lowered their target price on shares of Innergex Renewable Energy from C$11.50 to C$10.50 in a report on Thursday, January 30th. Desjardins lowered shares of Innergex Renewable Energy from a "buy" rating to a "tender" rating and cut their price target for the stock from C$14.50 to C$13.75 in a research note on Wednesday, February 26th. National Bankshares cut shares of Innergex Renewable Energy from an "outperform" rating to a "sector perform" rating and reduced their price target for the company from C$16.00 to C$13.75 in a research report on Wednesday, February 26th. Finally, Raymond James downgraded shares of Innergex Renewable Energy from an "outperform" rating to a "market perform" rating and upped their price objective for the company from C$11.50 to C$13.75 in a research note on Wednesday, February 26th.

View Our Latest Stock Analysis on INE

Innergex Renewable Energy Stock Up 0.1%

Shares of INE stock traded up C$0.01 on Friday, reaching C$13.73. 443,969 shares of the stock were exchanged, compared to its average volume of 1,072,983. The company has a market capitalization of C$2.82 billion, a price-to-earnings ratio of -22.02, a PEG ratio of 20.61 and a beta of 0.36. The business's 50 day moving average price is C$13.56 and its 200 day moving average price is C$10.71. The company has a current ratio of 0.56, a quick ratio of 0.58 and a debt-to-equity ratio of 620.44. Innergex Renewable Energy has a twelve month low of C$6.98 and a twelve month high of C$13.73.

Innergex Renewable Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 15th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend was Monday, March 31st. Innergex Renewable Energy's dividend payout ratio (DPR) is presently -57.74%.

Innergex Renewable Energy Company Profile

(Get Free Report

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.

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Analyst Recommendations for Innergex Renewable Energy (TSE:INE)

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