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Innergex Renewable Energy (OTCMKTS:INGXF) Stock Passes Above Fifty Day Moving Average - Time to Sell?

Innergex Renewable Energy logo with Utilities background

Shares of Innergex Renewable Energy Inc. (OTCMKTS:INGXF - Get Free Report) passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $9.64 and traded as high as $9.96. Innergex Renewable Energy shares last traded at $9.96, with a volume of 1,116 shares traded.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on INGXF. Raymond James cut Innergex Renewable Energy from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, February 25th. National Bank Financial lowered Innergex Renewable Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 25th.

Read Our Latest Report on INGXF

Innergex Renewable Energy Trading Down 0.6%

The firm has a market cap of $2.01 billion, a P/E ratio of 330.00 and a beta of 0.62. The stock has a fifty day simple moving average of $9.67 and a 200 day simple moving average of $7.54. The company has a debt-to-equity ratio of 4.50, a quick ratio of 0.56 and a current ratio of 0.56.

Innergex Renewable Energy (OTCMKTS:INGXF - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.01. Innergex Renewable Energy had a net margin of 1.84% and a return on equity of 4.40%. The firm had revenue of $188.64 million for the quarter, compared to the consensus estimate of $277.44 million. On average, research analysts expect that Innergex Renewable Energy Inc. will post 0.09 earnings per share for the current fiscal year.

Innergex Renewable Energy Cuts Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were paid a dividend of $0.0624 per share. The ex-dividend date was Monday, March 31st. This represents a yield of 2.64%. Innergex Renewable Energy's dividend payout ratio (DPR) is currently 178.57%.

Innergex Renewable Energy Company Profile

(Get Free Report)

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.

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