Shares of Innergex Renewable Energy Inc. (TSE:INE – Get Free Report) have received an average recommendation of “Moderate Buy” from the nine analysts that are presently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is C$12.25.
A number of equities analysts have weighed in on the stock. Scotiabank raised their target price on shares of Innergex Renewable Energy from C$10.50 to C$12.50 and gave the company an “outperform” rating in a research note on Wednesday, June 12th. National Bankshares lifted their price objective on Innergex Renewable Energy from C$16.00 to C$17.00 and gave the company an “outperform” rating in a research note on Thursday, July 4th. CIBC increased their target price on Innergex Renewable Energy from C$11.00 to C$11.50 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Cibc World Mkts raised Innergex Renewable Energy to a “hold” rating in a research report on Monday, July 22nd. Finally, Desjardins upped their price target on shares of Innergex Renewable Energy from C$13.00 to C$14.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th.
Check Out Our Latest Stock Analysis on Innergex Renewable Energy
Innergex Renewable Energy Price Performance
Innergex Renewable Energy (TSE:INE – Get Free Report) last released its earnings results on Wednesday, May 8th. The company reported C($0.11) earnings per share for the quarter, hitting analysts’ consensus estimates of C($0.11). Innergex Renewable Energy had a negative net margin of 11.78% and a negative return on equity of 10.13%. The firm had revenue of C$242.54 million for the quarter, compared to the consensus estimate of C$240.80 million. Research analysts expect that Innergex Renewable Energy will post 0.0799919 EPS for the current fiscal year.
Innergex Renewable Energy Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 15th were paid a $0.09 dividend. The ex-dividend date was Friday, June 28th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.83%. Innergex Renewable Energy’s dividend payout ratio is presently -56.25%.
Insider Activity at Innergex Renewable Energy
In related news, Director Patrick Loulou bought 11,000 shares of the business’s stock in a transaction on Thursday, June 20th. The stock was acquired at an average price of C$10.25 per share, with a total value of C$112,750.00. 20.44% of the stock is owned by insiders.
About Innergex Renewable Energy
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 renewable power-generating and energy storage facilities primarily in hydroelectric, wind, and solar power sectors. The company operates through three segments: Hydroelectric Power Generation, Wind Power Generation, and Solar Power Generation.
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