Innergex Renewable Energy Inc. (INE) to Distribute Quarterly Dividend of $0.09 on October 15th

Innergex Renewable Energy Inc. (TSE:INE) declared a quarterly dividend on Wednesday, August 7th, Zacks reports. Investors of record on Monday, September 30th will be paid a dividend of 0.09 per share on Tuesday, October 15th. This represents a $0.36 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date of this dividend is Friday, September 27th.

Innergex Renewable Energy Stock Down 0.6 %

TSE INE traded down C$0.06 during trading hours on Friday, reaching C$9.63. 94,450 shares of the company traded hands, compared to its average volume of 715,499. The stock has a market capitalization of C$1.96 billion, a PE ratio of -15.14, a PEG ratio of 20.61 and a beta of 0.34. The company has a current ratio of 0.74, a quick ratio of 0.58 and a debt-to-equity ratio of 546.12. Innergex Renewable Energy has a 12 month low of C$7.05 and a 12 month high of C$13.34. The company has a 50 day moving average of C$10.17 and a two-hundred day moving average of C$8.96.

Innergex Renewable Energy (TSE:INE) last issued 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 company had revenue of C$242.54 million for the quarter, compared to analysts’ expectations of C$240.80 million. As a group, equities analysts expect that Innergex Renewable Energy will post 0.0799919 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on the company. TD Securities downgraded Innergex Renewable Energy from a “buy” rating to a “hold” rating and set a C$10.00 price target on the stock. in a report on Friday, July 26th. National Bankshares lifted their target price 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 World Mkts raised Innergex Renewable Energy to a “hold” rating in a research note on Monday, July 22nd. Scotiabank raised their price target on Innergex Renewable Energy from C$10.50 to C$12.50 and gave the company an “outperform” rating in a report on Wednesday, June 12th. Finally, CIBC upped their price objective on shares of Innergex Renewable Energy from C$11.00 to C$11.50 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Innergex Renewable Energy presently has a consensus rating of “Moderate Buy” and an average target price of C$12.25.

Insider Activity

In other news, Director Patrick Loulou bought 11,000 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were purchased at an average cost of C$10.25 per share, with a total value of C$112,750.00. Insiders own 20.44% of the company’s stock.

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.