Innergex Renewable Energy Inc. (TSE:INE) Director Richard Gagnon Acquires 1,520 Shares of Stock

Innergex Renewable Energy Inc. (TSE:INEGet Rating) Director Richard Gagnon purchased 1,520 shares of the stock in a transaction dated Thursday, May 12th. The stock was bought at an average cost of C$16.46 per share, with a total value of C$25,019.20. Following the transaction, the director now owns 5,170 shares in the company, valued at C$85,098.20.

Innergex Renewable Energy stock opened at C$17.04 on Friday. The business has a 50-day simple moving average of C$18.60 and a two-hundred day simple moving average of C$18.55. The company has a market cap of C$3.48 billion and a P/E ratio of -15.60. Innergex Renewable Energy Inc. has a 52-week low of C$15.89 and a 52-week high of C$23.09. The company has a quick ratio of 0.38, a current ratio of 0.53 and a debt-to-equity ratio of 373.46.

Innergex Renewable Energy (TSE:INEGet Rating) last released its quarterly earnings results on Wednesday, February 23rd. The company reported C($0.06) earnings per share (EPS) for the quarter. The business had revenue of C$202.39 million during the quarter. Research analysts anticipate that Innergex Renewable Energy Inc. will post 0.45 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Thursday, June 30th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, June 29th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.23%. Innergex Renewable Energy’s dividend payout ratio is currently -65.93%.

Several research firms have recently issued reports on INE. CSFB lifted their price target on Innergex Renewable Energy from C$24.00 to C$25.00 in a research report on Wednesday, April 20th. Scotiabank decreased their target price on Innergex Renewable Energy from C$26.50 to C$20.25 in a research report on Thursday, January 27th. TD Securities raised Innergex Renewable Energy from a “hold” rating to a “buy” rating and decreased their target price for the stock from C$21.00 to C$19.00 in a research report on Thursday. Credit Suisse Group boosted their target price on Innergex Renewable Energy from C$24.00 to C$25.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 20th. Finally, Raymond James set a C$24.00 target price on Innergex Renewable Energy and gave the stock an “outperform” rating in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of C$23.48.

Innergex Renewable Energy Company Profile (Get Rating)

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 hydroelectric facilities, and wind and solar farms, as well as energy storage facilities. The company operates through three segments: Hydroelectric Power Generation, Wind Power Generation, and Solar Power Generation.

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