Innergex Renewable Energy (TSE:INE) Sets New 1-Year High - What's Next?

Innergex Renewable Energy Inc. (TSE:INE - Get Free Report)'s share price reached a new 52-week high during trading on Monday . The stock traded as high as C$13.63 and last traded at C$13.60, with a volume of 228138 shares. The stock had previously closed at C$13.52.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on INE shares. National Bank Financial cut shares of Innergex Renewable Energy from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 25th. Desjardins downgraded Innergex Renewable Energy from a "buy" rating to a "tender" rating and reduced their price objective for the stock from C$14.50 to C$13.75 in a research report on Wednesday, February 26th. Raymond James lowered Innergex Renewable Energy from an "outperform" rating to a "market perform" rating and increased their price objective for the stock from C$11.50 to C$13.75 in a report on Wednesday, February 26th. TD Securities lifted their target price on Innergex Renewable Energy from C$8.00 to C$9.00 and gave the company a "hold" rating in a research note on Friday, February 21st. Finally, Cormark decreased their price target on Innergex Renewable Energy from C$10.00 to C$9.50 in a research note on Thursday, January 30th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of C$11.59.

Innergex Renewable Energy Stock Down 0.4 %

The company has a debt-to-equity ratio of 620.44, a quick ratio of 0.58 and a current ratio of 0.56. The company has a market cap of C$2.78 billion, a P/E ratio of -21.72, a P/E/G ratio of 20.61 and a beta of 0.36. The stock has a 50 day moving average price of C$13.51 and a 200 day moving average price of C$10.16.

Innergex Renewable Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 15th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend was Monday, March 31st. Innergex Renewable Energy's dividend payout ratio (DPR) 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.