Innergex Renewable Energy (OTCMKTS:INGXF) Sets New 52-Week High – What’s Next?

Innergex Renewable Energy Inc. (OTCMKTS:INGXF)’s stock price reached a new 52-week high on Thursday . The company traded as high as $9.62 and last traded at $9.62, with a volume of 34639 shares traded. The stock had previously closed at $9.59.

Wall Street Analysts Forecast Growth

Several research analysts have commented on INGXF shares. Raymond James downgraded shares of Innergex Renewable Energy from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, February 25th. National Bank Financial lowered Innergex Renewable Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 25th.

Innergex Renewable Energy Price Performance

The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 4.50. The business’s 50-day simple moving average is $8.28 and its 200-day simple moving average is $6.91. The stock has a market cap of $1.97 billion, a PE ratio of 323.00 and a beta of 0.55.

Innergex Renewable Energy (OTCMKTS:INGXF) last announced its earnings results on Thursday, February 20th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.22. Innergex Renewable Energy had a net margin of 1.84% and a return on equity of 4.40%. The firm had revenue of $204.46 million for the quarter, compared to analyst estimates of $266.84 million. On average, research analysts expect that Innergex Renewable Energy Inc. will post 0.09 EPS for the current fiscal year.

Innergex Renewable Energy Cuts Dividend

The company also recently announced a dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be paid a $0.0624 dividend. This represents a dividend yield of 2.64%. The ex-dividend date of this dividend is Monday, March 31st. Innergex Renewable Energy’s payout ratio is presently 833.33%.

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.