CIBC Boosts Innergex Renewable Energy (TSE:INE) Price Target to C$11.00

Innergex Renewable Energy (TSE:INEFree Report) had its price target lifted by CIBC from C$10.00 to C$11.00 in a research report report published on Wednesday, BayStreet.CA reports. The firm currently has a neutral rating on the stock.

Several other equities analysts have also weighed in on INE. Raymond James cut their price objective on shares of Innergex Renewable Energy from C$15.00 to C$13.00 and set an outperform rating on the stock in a report on Thursday, February 22nd. National Bankshares increased their price objective on shares of Innergex Renewable Energy from C$15.00 to C$16.00 and gave the company an outperform rating in a report on Tuesday, May 28th. TD Securities cut their price objective on shares of Innergex Renewable Energy from C$12.00 to C$10.00 and set a buy rating on the stock in a report on Wednesday, February 14th. Scotiabank increased their price objective on shares of Innergex Renewable Energy from C$10.50 to C$12.50 and gave the company an outperform rating in a report on Wednesday. Finally, Desjardins increased their price objective on shares of Innergex Renewable Energy from C$13.00 to C$14.00 and gave the company a buy rating in a report on Thursday, June 6th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Innergex Renewable Energy has a consensus rating of Moderate Buy and a consensus target price of C$12.06.

View Our Latest Analysis on Innergex Renewable Energy

Innergex Renewable Energy Price Performance

Shares of INE stock opened at C$10.45 on Wednesday. Innergex Renewable Energy has a 1 year low of C$7.05 and a 1 year high of C$13.52. The firm’s 50 day moving average is C$8.84 and its 200-day moving average is C$8.71. The firm has a market capitalization of C$2.13 billion, a price-to-earnings ratio of -16.11, 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 (TSE:INEGet Free Report) last announced its quarterly earnings data on Wednesday, May 8th. The company reported C($0.11) earnings per share for the quarter, meeting the consensus estimate 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 business had revenue of C$242.54 million for the quarter, compared to analyst estimates of C$240.80 million. Sell-side analysts forecast that Innergex Renewable Energy will post 0.0799919 EPS for the current fiscal year.

Innergex Renewable Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 15th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend is Friday, June 28th. Innergex Renewable Energy’s payout ratio is presently -56.25%.

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 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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