Innergex Renewable Energy (TSE:INE) Hits New 12-Month Low at $12.56

Innergex Renewable Energy Inc. (TSE:INE – Get Rating)’s stock price hit a new 52-week low during trading on Friday . The company traded as low as C$12.56 and last traded at C$12.74, with a volume of 20013 shares traded. The stock had previously closed at C$12.79.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on INE. CIBC reduced their target price on shares of Innergex Renewable Energy from C$19.00 to C$17.50 in a research report on Friday, April 21st. CSFB reduced their target price on shares of Innergex Renewable Energy from C$20.00 to C$19.50 in a research report on Monday, April 24th. Finally, National Bankshares raised their target price on shares of Innergex Renewable Energy from C$20.00 to C$21.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 19th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$18.83.

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Innergex Renewable Energy Trading Down 1.8 %

The company has a market capitalization of C$2.57 billion, a PE ratio of -38.06, a price-to-earnings-growth ratio of 20.61 and a beta of 0.33. The company’s fifty day moving average is C$13.72 and its 200-day moving average is C$14.91. The company has a debt-to-equity ratio of 432.38, a current ratio of 0.97 and a quick ratio of 0.58.

Innergex Renewable Energy (TSE:INE – Get Rating) last issued its quarterly earnings data on Tuesday, May 9th. The company reported C($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.01) by C($0.07). The business had revenue of C$218.33 million for the quarter, compared to analysts’ expectations of C$211.90 million. Innergex Renewable Energy had a negative net margin of 6.99% and a negative return on equity of 4.72%. On average, analysts anticipate that Innergex Renewable Energy Inc. will post 0.250423 EPS for the current fiscal year.

Innergex Renewable Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 17th. Shareholders of record on Friday, June 30th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Thursday, June 29th. This represents a $0.72 annualized dividend and a yield of 5.73%. Innergex Renewable Energy’s dividend payout ratio (DPR) is -218.18%.

Innergex Renewable Energy Company Profile

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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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