Innergex Renewable Energy (INE) Reaches New 1-Year Low at $13.40

Innergex Renewable Energy (TSE:INE) reached a new 52-week low on Wednesday . The company traded as low as C$13.40 and last traded at C$13.46, with a volume of 98323 shares traded. The stock had previously closed at C$13.72.

INE has been the topic of a number of research reports. Desjardins upped their price target on Innergex Renewable Energy from C$15.25 to C$15.50 in a report on Thursday. TD Securities upped their target price on Innergex Renewable Energy to C$15.00 and gave the company a “hold” rating in a research note on Tuesday, May 8th. Canaccord Genuity set a C$14.50 target price on Innergex Renewable Energy and gave the company a “hold” rating in a research note on Friday, May 4th. Finally, BMO Capital Markets lowered Innergex Renewable Energy from an “outperform” rating to a “market perform” rating and reduced their target price for the company from C$19.00 to C$15.00 in a research note on Wednesday, February 7th.

Innergex Renewable Energy (TSE:INE) last posted its earnings results on Wednesday, February 21st. The company reported C$0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.06 by C($0.03). Innergex Renewable Energy had a net margin of 3.26% and a return on equity of 7.23%. The company had revenue of C$107.97 million during the quarter, compared to analysts’ expectations of C$115.00 million.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 16th. Investors of record on Friday, June 29th will be paid a $0.17 dividend. The ex-dividend date is Thursday, June 28th. This represents a $0.68 dividend on an annualized basis and a yield of 5.03%. This is a positive change from Innergex Renewable Energy’s previous quarterly dividend of $0.17.

About Innergex Renewable Energy

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 four segments: Hydroelectric Generation, Wind Power Generation, Solar Power Generation, and Site Development.

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