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

Innergex Renewable Energy Inc. (TSE:INE) announced a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Investors of record on Tuesday, December 31st will be given a dividend of 0.09 per share on Wednesday, January 15th. This represents a $0.36 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date of this dividend is Tuesday, December 31st.

Innergex Renewable Energy Price Performance

INE stock opened at C$8.84 on Friday. The stock’s 50 day moving average price is C$9.62 and its 200 day moving average price is 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 firm has a market cap of C$1.79 billion, a P/E ratio of -13.60, a PEG ratio of 20.61 and a beta of 0.36. The company has a debt-to-equity ratio of 428.86, a quick ratio of 0.58 and a current ratio of 0.57.

Innergex Renewable Energy (TSE:INE) last released its quarterly earnings data on Wednesday, August 7th. The company reported C($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.02) by C($0.01). The business had revenue of C$239.51 million during the quarter, compared to analyst estimates of C$256.60 million. Innergex Renewable Energy had a negative return on equity of 9.27% and a negative net margin of 11.96%. On average, sell-side analysts expect that Innergex Renewable Energy will post 0.1549878 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

INE has been the subject of several research analyst reports. TD Securities lowered Innergex Renewable Energy from a “buy” rating to a “hold” rating and set a C$10.00 price objective for the company. in a report on Friday, July 26th. CIBC cut their target price on Innergex Renewable Energy from C$11.50 to C$11.00 in a research note on Thursday. Cibc World Mkts raised shares of Innergex Renewable Energy to a “hold” rating in a research note on Monday, July 22nd. Cormark cut Innergex Renewable Energy from a “moderate buy” rating to a “hold” rating in a research note on Friday, August 9th. Finally, Scotiabank decreased their price target on shares of Innergex Renewable Energy from C$12.50 to C$11.50 in a research report on Thursday. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$12.38.

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.