Innergex Renewable Energy Inc. (TSE:INE – Get Rating) – Equities research analysts at National Bank Financial boosted their Q3 2022 EPS estimates for Innergex Renewable Energy in a report released on Wednesday, July 27th. National Bank Financial analyst R. Merer now anticipates that the company will earn $0.22 per share for the quarter, up from their previous forecast of $0.19. The consensus estimate for Innergex Renewable Energy's current full-year earnings is $0.44 per share. National Bank Financial also issued estimates for Innergex Renewable Energy's Q4 2022 earnings at $0.11 EPS and FY2022 earnings at $0.39 EPS.
Get Innergex Renewable Energy alerts:Innergex Renewable Energy (TSE:INE – Get Rating) last announced its quarterly earnings results on Tuesday, May 10th. The company reported C($0.02) EPS for the quarter, beating the consensus estimate of C($0.04) by C$0.02. The company had revenue of C$188.72 million during the quarter, compared to analysts' expectations of C$181.30 million.
INE has been the topic of a number of other reports. National Bankshares raised their target price 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. Credit Suisse Group lowered their target price on shares of Innergex Renewable Energy from C$25.00 to C$24.00 and set an "outperform" rating on the stock in a report on Monday. CIBC boosted their price target on shares of Innergex Renewable Energy from C$21.00 to C$22.00 in a research note on Thursday, July 21st. CSFB boosted their price target on shares of Innergex Renewable Energy from C$24.00 to C$25.00 in a research note on Wednesday, April 20th. Finally, TD Securities upgraded shares of Innergex Renewable Energy from a "hold" rating to a "buy" rating and dropped their price target for the stock from C$21.00 to C$19.00 in a research note on Thursday, May 12th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, Innergex Renewable Energy currently has an average rating of "Moderate Buy" and a consensus price target of C$23.11.Innergex Renewable Energy Stock Performance
Shares of INE opened at C$18.95 on Friday. The company has a current ratio of 0.59, a quick ratio of 0.44 and a debt-to-equity ratio of 309.01. The firm has a market cap of C$3.87 billion and a PE ratio of -199.47. The company's 50 day simple moving average is C$17.80 and its 200-day simple moving average is C$18.07. Innergex Renewable Energy has a 12-month low of C$15.89 and a 12-month high of C$22.03.
Innergex Renewable Energy Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date of this dividend was Wednesday, June 29th. Innergex Renewable Energy's dividend payout ratio is currently -757.89%.
Insider Buying and Selling
In related news, Director Richard Gagnon acquired 1,520 shares of the firm's stock in a transaction that occurred on Thursday, May 12th. The shares were purchased at an average price of C$16.46 per share, with a total value of C$25,019.20. Following the completion of the acquisition, the director now owns 5,170 shares in the company, valued at C$85,098.20.
About Innergex Renewable Energy
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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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