Innergex Renewable Energy Inc. (TSE:INE - Get Free Report)'s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$9.84 and traded as high as C$13.55. Innergex Renewable Energy shares last traded at C$13.55, with a volume of 712,488 shares traded.
Analysts Set New Price Targets
Several equities analysts have weighed in on the company. TD Securities raised their price objective 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. 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 lowered shares of Innergex Renewable Energy from a "buy" rating to a "tender" rating and decreased their price objective for the company from C$14.50 to C$13.75 in a research note on Wednesday, February 26th. Raymond James cut shares of Innergex Renewable Energy from an "outperform" rating to a "market perform" rating and lifted their target price for the stock from C$11.50 to C$13.75 in a research report on Wednesday, February 26th. Finally, Cormark decreased their price target on Innergex Renewable Energy from C$10.00 to C$9.50 in a research report on Thursday, January 30th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, Innergex Renewable Energy has an average rating of "Hold" and an average target price of C$11.59.
Check Out Our Latest Analysis on INE
Innergex Renewable Energy Stock Performance
The stock has a market capitalization of C$2.76 billion, a PE ratio of -21.62, a PEG ratio of 20.61 and a beta of 0.36. The business's 50 day moving average is C$12.49 and its 200 day moving average is C$9.93. The company has a current ratio of 0.56, a quick ratio of 0.58 and a debt-to-equity ratio of 620.44.
Innergex Renewable Energy Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 15th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend was Monday, March 31st. Innergex Renewable Energy's dividend payout ratio (DPR) is -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.
Further Reading
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