Innergex Renewable Energy Inc. (TSE:INE - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$10.45 and traded as high as C$13.62. Innergex Renewable Energy shares last traded at C$13.61, with a volume of 301,783 shares trading hands.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on the stock. TD Securities upped their price objective on shares of Innergex Renewable Energy from C$8.00 to C$9.00 and gave the stock a "hold" rating in a report on Friday, February 21st. Scotiabank cut their price target on shares of Innergex Renewable Energy from C$11.50 to C$10.50 in a report on Thursday, January 30th. Desjardins cut shares of Innergex Renewable Energy from a "buy" rating to a "tender" rating and cut their price target for the company from C$14.50 to C$13.75 in a report on Wednesday, February 26th. Cormark dropped their target price on shares of Innergex Renewable Energy from C$10.00 to C$9.50 in a report on Thursday, January 30th. Finally, Raymond James downgraded shares of Innergex Renewable Energy from an "outperform" rating to a "market perform" rating and increased their price target for the stock from C$11.50 to C$13.75 in a research report on Wednesday, February 26th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of C$11.59.
Check Out Our Latest Analysis on Innergex Renewable Energy
Innergex Renewable Energy Price Performance
The stock's 50-day simple moving average is C$13.55 and its two-hundred day simple moving average is C$10.58. The company has a market capitalization of C$2.80 billion, a price-to-earnings ratio of -21.92, a PEG ratio of 20.61 and a beta of 0.36. The company has a quick ratio of 0.58, a current ratio of 0.56 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. Stockholders of record on Tuesday, April 15th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.63%. 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
(
Get Free Report)
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.
Featured Stories
Before you consider Innergex Renewable Energy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Innergex Renewable Energy wasn't on the list.
While Innergex Renewable Energy currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
