Innergex Renewable Energy (TSE:INE) Given New C$11.00 Price Target at CIBC

Innergex Renewable Energy (TSE:INE) had its price target decreased by CIBC from C$11.50 to C$11.00 in a research report report published on Thursday,BayStreet.CA reports.

A number of other analysts have also recently issued reports on INE. TD Securities cut Innergex Renewable Energy from a “buy” rating to a “hold” rating and set a C$10.00 price objective for the company. in a research report on Friday, July 26th. Scotiabank lowered their price objective on Innergex Renewable Energy from C$12.50 to C$11.50 in a research note on Thursday. BMO Capital Markets increased their price target on Innergex Renewable Energy from C$11.00 to C$11.50 in a report on Thursday, September 5th. Cibc World Mkts upgraded Innergex Renewable Energy to a “hold” rating in a report on Monday, July 22nd. Finally, Cormark lowered Innergex Renewable Energy from a “moderate buy” rating to a “hold” rating in a research report on Friday, August 9th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of C$12.38.

Innergex Renewable Energy Stock Down 0.2 %

TSE:INE traded down C$0.02 on Thursday, hitting C$8.82. 138,334 shares of the company’s stock traded hands, compared to its average volume of 644,683. The firm has a 50-day moving average price of C$9.62 and a 200-day moving average price of C$9.56. Innergex Renewable Energy has a 1 year low of C$7.05 and a 1 year high of C$10.96. The company has a current ratio of 0.57, a quick ratio of 0.58 and a debt-to-equity ratio of 428.86. The company has a market cap of C$1.79 billion, a PE ratio of -13.60, a price-to-earnings-growth ratio of 20.61 and a beta of 0.36.

Innergex Renewable Energy (TSE:INE) last announced its earnings results on Wednesday, August 7th. The company reported C($0.03) EPS for the quarter, missing the consensus estimate of C($0.02) by C($0.01). Innergex Renewable Energy had a negative return on equity of 9.27% and a negative net margin of 11.96%. The business had revenue of C$239.51 million for the quarter, compared to the consensus estimate of C$256.60 million. Equities analysts anticipate that Innergex Renewable Energy will post 0.1549878 EPS for the current fiscal year.

Innergex Renewable Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.36 annualized dividend and a dividend yield of 4.08%. Innergex Renewable Energy’s dividend payout ratio (DPR) is presently -55.38%.

Innergex Renewable Energy Company Profile

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.