Innergex Renewable Energy (INE) Given New C$15.50 Price Target at TD Securities

Innergex Renewable Energy (TSE:INE) had its price objective trimmed by TD Securities from C$16.00 to C$15.50 in a research report sent to investors on Thursday morning, BayStreet.CA reports. The firm currently has a hold rating on the stock.

Several other equities analysts have also recently issued reports on the stock. Raymond James restated an outperform rating and set a C$17.00 target price on shares of Innergex Renewable Energy in a research note on Friday, March 1st. BMO Capital Markets upped their target price on shares of Innergex Renewable Energy from C$13.50 to C$15.00 and gave the company a market perform rating in a research note on Wednesday, February 13th. National Bank Financial upped their target price on shares of Innergex Renewable Energy from C$17.50 to C$18.50 and gave the company an outperform rating in a research note on Tuesday, February 19th. Finally, Desjardins restated an average rating and set a C$15.50 target price on shares of Innergex Renewable Energy in a research note on Wednesday, April 24th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of C$15.86.

INE traded up C$0.07 during midday trading on Thursday, hitting C$13.94. 91,957 shares of the company traded hands, compared to its average volume of 268,508. The company has a debt-to-equity ratio of 490.74, a quick ratio of 0.29 and a current ratio of 0.36. The stock has a market capitalization of $1.88 billion and a P/E ratio of 67.62. Innergex Renewable Energy has a 52 week low of C$11.66 and a 52 week high of C$14.75.

Innergex Renewable Energy (TSE:INE) last posted its earnings results on Wednesday, February 27th. The company reported C$0.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.06 by C$0.04. The company had revenue of C$166.16 million for the quarter, compared to the consensus estimate of C$162.30 million. Research analysts forecast that Innergex Renewable Energy will post 0.409999961404783 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 5.02%. The ex-dividend date of this dividend is Thursday, June 27th. Innergex Renewable Energy’s payout ratio is currently 330.10%.

In other Innergex Renewable Energy news, Director Daniel Lafrance purchased 2,000 shares of Innergex Renewable Energy stock in a transaction dated Thursday, May 16th. The stock was purchased at an average price of C$13.82 per share, with a total value of C$27,640.00. Following the transaction, the director now directly owns 35,000 shares of the company’s stock, valued at C$483,700.

Innergex Renewable Energy Company Profile

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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Analyst Recommendations for Innergex Renewable Energy (TSE:INE)

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