Shares of Innergex Renewable Energy Inc. (OTCMKTS:INGXF – Get Rating) have received an average rating of "Moderate Buy" from the nine ratings firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $22.25.

A number of analysts recently commented on INGXF shares. TD Securities raised Innergex Renewable Energy from a "hold" rating to a "buy" rating in a research report on Wednesday, May 11th. National Bank Financial increased their price objective on Innergex Renewable Energy from C$23.00 to C$24.00 in a report on Thursday, July 28th. Finally, Desjardins reduced their price objective on Innergex Renewable Energy from C$20.50 to C$20.00 in a report on Thursday, May 12th.

Innergex Renewable Energy Stock Performance

Shares of INGXF opened at $15.16 on Tuesday. The company has a debt-to-equity ratio of 3.03, a quick ratio of 0.59 and a current ratio of 0.59. The stock has a 50 day moving average price of $14.02 and a two-hundred day moving average price of $14.22. The firm has a market capitalization of $3.09 billion, a P/E ratio of -44.59 and a beta of 0.51. Innergex Renewable Energy has a 52 week low of $12.26 and a 52 week high of $17.80.

Innergex Renewable Energy Cuts Dividend

The business also recently declared a dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were issued a $0.1383 dividend. This represents a dividend yield of 4.12%. The ex-dividend date of this dividend was Wednesday, June 29th. Innergex Renewable Energy's payout ratio is currently -167.64%.

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.

Further Reading

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