Innergex Renewable Energy (OTCMKTS:INGXF) Share Price Passes Above 50 Day Moving Average - Time to Sell?

Innergex Renewable Energy Inc. (OTCMKTS:INGXF - Get Free Report) passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $9.77 and traded as high as $10.05. Innergex Renewable Energy shares last traded at $10.05, with a volume of 117 shares.

Analyst Upgrades and Downgrades

INGXF has been the topic of a number of recent research reports. National Bank Financial cut Innergex Renewable Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Raymond James cut Innergex Renewable Energy from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, February 25th.

Innergex Renewable Energy Stock Performance

The stock has a market capitalization of $2.04 billion, a PE ratio of 334.52 and a beta of 0.61. The business has a 50 day moving average price of $9.79 and a 200 day moving average price of $7.83. The company has a debt-to-equity ratio of 4.50, a current ratio of 0.56 and a quick ratio of 0.56.

Innergex Renewable Energy (OTCMKTS:INGXF - Get Free Report) last released 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 return on equity of 4.40% and a net margin of 1.84%. The company had revenue of $188.64 million for the quarter, compared to analysts' expectations of $277.44 million. As a group, equities research analysts expect that Innergex Renewable Energy Inc. will post 0.09 earnings per share for the current year.

Innergex Renewable Energy Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were given a dividend of $0.0624 per share. The ex-dividend date was Monday, March 31st. This represents a dividend yield of 2.64%. Innergex Renewable Energy's dividend payout ratio (DPR) is presently 185.71%.

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.