Innergex Renewable Energy (TSE:INE) Shares Cross Above 200 Day Moving Average - Should You Sell?

Innergex Renewable Energy Inc. (TSE:INE - Get Free Report) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$9.97 and traded as high as C$13.51. Innergex Renewable Energy shares last traded at C$13.51, with a volume of 1,029,821 shares traded.

Analyst Upgrades and Downgrades

INE has been the topic of a number of research reports. TD Securities lifted their target price on shares of 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. Scotiabank lowered their target price on Innergex Renewable Energy from C$11.50 to C$10.50 in a research note on Thursday, January 30th. National Bankshares cut shares of Innergex Renewable Energy from an "outperform" rating to a "sector perform" rating and lowered their price target for the company from C$16.00 to C$13.75 in a research report on Wednesday, February 26th. Raymond James cut shares of Innergex Renewable Energy from an "outperform" rating to a "market perform" rating and upped their price objective for the stock from C$11.50 to C$13.75 in a report on Wednesday, February 26th. Finally, Cormark dropped their price target on Innergex Renewable Energy from C$10.00 to C$9.50 in a research report on Thursday, January 30th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, Innergex Renewable Energy has a consensus rating of "Hold" and an average target price of C$11.59.

Innergex Renewable Energy Price Performance

The firm has a market capitalization of C$2.79 billion, a P/E ratio of -21.83, a PEG ratio of 20.61 and a beta of 0.36. The firm has a 50-day moving average of C$13.22 and a 200-day moving average of C$10.05. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 15th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.36 annualized dividend and a dividend yield of 2.65%. Innergex Renewable Energy's dividend payout ratio (DPR) is presently -57.74%.

Innergex Renewable Energy Company Profile

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.