Innergex Renewable Energy Inc. (TSE:INE) Plans Quarterly Dividend of $0.09

Innergex Renewable Energy Inc. (TSE:INE) declared a quarterly dividend on Monday, March 31st, TickerTech Dividends reports. Stockholders of record on Tuesday, April 15th will be paid a dividend of 0.09 per share on Tuesday, April 15th. This represents a $0.36 annualized dividend and a dividend yield of 2.65%. The ex-dividend date is Monday, March 31st.

Innergex Renewable Energy Price Performance

TSE:INE remained flat at C$13.57 during mid-day trading on Friday. 571,412 shares of the company were exchanged, compared to its average volume of 1,257,442. The company has a debt-to-equity ratio of 620.44, a current ratio of 0.56 and a quick ratio of 0.58. The stock has a market capitalization of C$2.78 billion, a price-to-earnings ratio of -21.76, a PEG ratio of 20.61 and a beta of 0.36. The business’s 50-day simple moving average is C$10.41 and its two-hundred day simple moving average is C$9.47. Innergex Renewable Energy has a 52 week low of C$6.98 and a 52 week high of C$13.63.

Analyst Ratings Changes

A number of research firms have recently issued reports on INE. National Bank Financial downgraded shares of Innergex Renewable Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 25th. TD Securities increased their target price on Innergex Renewable Energy from C$8.00 to C$9.00 and gave the company a “hold” rating in a research report on Friday, February 21st. Scotiabank reduced their price target on Innergex Renewable Energy from C$11.50 to C$10.50 in a research report on Thursday, January 30th. Desjardins cut Innergex Renewable Energy from a “buy” rating to a “tender” rating and decreased their price objective for the stock from C$14.50 to C$13.75 in a research note on Wednesday, February 26th. Finally, National Bankshares lowered Innergex Renewable Energy from an “outperform” rating to a “sector perform” rating and cut their target price for the company from C$16.00 to C$13.75 in a research note on Wednesday, February 26th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Innergex Renewable Energy presently has a consensus rating of “Hold” and an average target price of C$11.59.

About Innergex Renewable Energy

For over 30 years, Innergex has believed in a world where abundant renewable energy promotes healthier communities and creates shared prosperity, which led to Innergex being recognized as Canada’s best corporate citizens in 2023 by Corporate Knights. As an independent renewable power producer which develops, acquires, owns and operates hydroelectric facilities, wind farms, solar farms and energy storage facilities, Innergex is convinced that generating power from renewable sources will lead the way to a better world.