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

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$10.78 and traded as high as C$13.72. Innergex Renewable Energy shares last traded at C$13.71, with a volume of 528,585 shares trading hands.

Analyst Ratings Changes

INE has been the subject of several recent analyst reports. National Bank Financial lowered 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 decreased their price target for the stock from C$14.50 to C$13.75 in a research note on Wednesday, February 26th. Raymond James cut Innergex Renewable Energy from an "outperform" rating to a "market perform" rating and upped their price objective for the company from C$11.50 to C$13.75 in a research note on Wednesday, February 26th. National Bankshares downgraded Innergex Renewable Energy from an "outperform" rating to a "sector perform" rating and reduced their target price for the stock from C$16.00 to C$13.75 in a report on Wednesday, February 26th. Finally, TD Securities boosted their price target on Innergex Renewable Energy from C$8.00 to C$9.00 and gave the company a "hold" rating in a report on Friday, February 21st. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of C$11.59.

Innergex Renewable Energy Stock Performance

The company has a market capitalization of C$2.81 billion, a price-to-earnings ratio of -21.94, a P/E/G ratio of 20.61 and a beta of 0.36. The stock has a 50 day simple moving average of C$13.57 and a 200 day simple moving average of C$10.81. 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 company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 15th were issued a $0.09 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.63%. 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.