Innergex Renewable Energy Inc. (TSE:INE - Get Free Report) hit 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 trading hands. The stock had previously closed at C$13.52.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on INE shares. Scotiabank lowered their target price on shares of Innergex Renewable Energy from C$11.50 to C$10.50 in a research report on Thursday, January 30th. Raymond James downgraded Innergex Renewable Energy from an "outperform" rating to a "market perform" rating and raised their price objective for the company from C$11.50 to C$13.75 in a research note on Wednesday, February 26th. Cormark decreased their target price on Innergex Renewable Energy from C$10.00 to C$9.50 in a research report on Thursday, January 30th. Desjardins cut Innergex Renewable Energy from a "buy" rating to a "tender" rating and dropped their price target for the company from C$14.50 to C$13.75 in a research report on Wednesday, February 26th. Finally, National Bank Financial cut shares of Innergex Renewable Energy from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Innergex Renewable Energy currently has an average rating of "Hold" and an average price target of C$11.59.
Get Our Latest Stock Report on Innergex Renewable Energy
Innergex Renewable Energy Price Performance
The company has a market capitalization of C$2.79 billion, a price-to-earnings ratio of -21.81, a P/E/G ratio of 20.61 and a beta of 0.36. The company has a fifty day simple moving average of C$13.41 and a two-hundred day simple moving average of C$10.11. The company has a debt-to-equity ratio of 620.44, a quick ratio of 0.58 and a current ratio of 0.56.
Innergex Renewable Energy Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 15th were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date was Monday, March 31st. Innergex Renewable Energy's dividend payout ratio is currently -57.74%.
About Innergex Renewable Energy
(
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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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