Innergex Renewable Energy (OTCMKTS:INGXF) Shares Pass Above Fifty Day Moving Average of $13.97

Innergex Renewable Energy Inc. (OTCMKTS:INGXFGet Rating)’s share price crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $13.97 and traded as high as $15.06. Innergex Renewable Energy shares last traded at $14.98, with a volume of 5,525 shares.

Wall Street Analysts Forecast Growth

INGXF has been the topic of a number of research reports. National Bank Financial increased their target price on shares of Innergex Renewable Energy from C$23.00 to C$24.00 in a report on Thursday, July 28th. TD Securities upgraded shares of Innergex Renewable Energy from a “hold” rating to a “buy” rating in a report on Wednesday, May 11th. Finally, Desjardins reduced their price objective on shares of Innergex Renewable Energy from C$20.50 to C$20.00 in a report on Thursday, May 12th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Innergex Renewable Energy presently has an average rating of “Moderate Buy” and an average price target of $22.39.

Innergex Renewable Energy Price Performance

The stock’s 50-day moving average is $13.99 and its 200 day moving average is $14.21. The stock has a market capitalization of $3.05 billion, a PE ratio of -43.88 and a beta of 0.51. The company has a debt-to-equity ratio of 3.03, a quick ratio of 0.59 and a current ratio of 0.59.

Innergex Renewable Energy (OTCMKTS:INGXFGet Rating) last announced its quarterly earnings results on Tuesday, May 10th. The company reported ($0.01) earnings per share (EPS) for the quarter. Innergex Renewable Energy had a negative return on equity of 0.16% and a negative net margin of 9.83%. The company had revenue of $148.99 million for the quarter.

Innergex Renewable Energy Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were paid a $0.1383 dividend. The ex-dividend date of this dividend was Wednesday, June 29th. This represents a yield of 4.12%. Innergex Renewable Energy’s dividend payout ratio (DPR) is presently -167.64%.

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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