Innergex Renewable Energy Inc. (TSE:INE – Get Rating) – Raymond James raised their FY2023 EPS estimates for shares of Innergex Renewable Energy in a note issued to investors on Thursday, August 4th. Raymond James analyst D. Quezada now forecasts that the company will post earnings per share of $0.42 for the year, up from their previous forecast of $0.35. Raymond James has a "Outperform" rating and a $24.00 price target on the stock. The consensus estimate for Innergex Renewable Energy's current full-year earnings is $0.44 per share.

INE has been the topic of a number of other reports. CIBC boosted their price target on shares of Innergex Renewable Energy from C$21.00 to C$22.00 in a report on Thursday, July 21st. CSFB upped their price target on Innergex Renewable Energy from C$24.00 to C$25.00 in a research report on Wednesday, April 20th. National Bankshares upped their price objective on shares of Innergex Renewable Energy from C$23.00 to C$24.00 and gave the stock an "outperform" rating in a research report on Thursday, July 28th. TD Securities cut shares of Innergex Renewable Energy from a "buy" rating to a "hold" rating and upped their price objective for the stock from C$19.00 to C$21.00 in a research report on Friday. Finally, Cormark upped their target price on Innergex Renewable Energy from C$21.00 to C$23.00 in a research note on Friday. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Innergex Renewable Energy currently has an average rating of "Moderate Buy" and a consensus target price of C$23.27.

Innergex Renewable Energy Stock Performance

Innergex Renewable Energy (TSE:INE – Get Rating) last released its quarterly earnings data on Wednesday, August 3rd. The company reported C($0.01) earnings per share for the quarter, missing the consensus estimate of C$0.08 by C($0.09). The firm had revenue of C$219.75 million for the quarter, compared to the consensus estimate of C$224.95 million.

Insider Buying and Selling at Innergex Renewable Energy

In other news, Director Richard Gagnon purchased 1,520 shares of the company's stock in a transaction dated Thursday, May 12th. The shares were acquired at an average price of C$16.46 per share, with a total value of C$25,019.20. Following the transaction, the director now owns 5,170 shares of the company's stock, valued at C$85,098.20.

Innergex Renewable Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.71%. The ex-dividend date was Wednesday, June 29th. Innergex Renewable Energy's dividend payout ratio (DPR) is presently -757.89%.

Innergex Renewable Energy Company Profile

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Innergex Renewable Energy Inc operates as an independent renewable power producer in Canada, the United States, France, and Chile. It acquires, owns, develops, and operates hydroelectric facilities, and wind and solar farms, as well as energy storage facilities. The company operates through three segments: Hydroelectric Power Generation, Wind Power Generation, and Solar Power Generation.

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