Innergex Renewable Energy (TSE:INE) Hits New 1-Year High at $16.63

Innergex Renewable Energy Inc (TSE:INE) reached a new 52-week high on Friday . The stock traded as high as C$16.63 and last traded at C$16.49, with a volume of 83498 shares trading hands. The stock had previously closed at C$16.52.

Several equities analysts have weighed in on the company. CIBC raised their target price on Innergex Renewable Energy from C$15.50 to C$16.00 in a report on Wednesday, October 23rd. National Bank Financial set a C$18.50 price objective on Innergex Renewable Energy and gave the stock an “outperform” rating in a research note on Monday, September 30th. Finally, Raymond James reiterated an “outperform” rating and issued a C$17.50 price objective on shares of Innergex Renewable Energy in a research note on Wednesday, August 14th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of C$16.07.

The firm has a market capitalization of $2.28 billion and a price-to-earnings ratio of 91.16. The company has a current ratio of 0.29, a quick ratio of 0.20 and a debt-to-equity ratio of 676.08. The firm has a fifty day moving average price of C$15.91 and a 200 day moving average price of C$14.86.

Innergex Renewable Energy (TSE:INE) last announced its earnings results on Tuesday, August 13th. The company reported C($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of C$0.09 by C($0.13). The company had revenue of C$144.69 million for the quarter, compared to analyst estimates of C$146.70 million. As a group, equities analysts predict that Innergex Renewable Energy Inc will post 0.46 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 15th were given a $0.175 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.70 annualized dividend and a dividend yield of 4.24%. Innergex Renewable Energy’s dividend payout ratio is 381.22%.

Innergex Renewable Energy Company Profile (TSE:INE)

Innergex Renewable Energy Inc operates as an independent renewable power producer. It develops, owns, and operates run-of-river hydroelectric facilities, wind farms, solar photovoltaic farms, and geothermal power facilities. The company operates through five segments: Hydroelectric Generation, Wind Power Generation, Solar Power Generation, Geothermal Generation, and Site Development.

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