Innergex Renewable Energy (TSE:INE) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Shares of Innergex Renewable Energy Inc. (TSE:INE) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$9.46 and traded as high as C$9.94. Innergex Renewable Energy shares last traded at C$9.85, with a volume of 368,921 shares traded.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on INE. CIBC upped their price objective on Innergex Renewable Energy from C$11.00 to C$11.50 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. BMO Capital Markets upped their price objective on Innergex Renewable Energy from C$11.00 to C$11.50 in a research report on Thursday, September 5th. Cibc World Mkts upgraded Innergex Renewable Energy to a “hold” rating in a research report on Monday, July 22nd. TD Securities downgraded Innergex Renewable Energy from a “buy” rating to a “hold” rating and set a C$10.00 target price for the company. in a research report on Friday, July 26th. Finally, National Bankshares increased their target price on Innergex Renewable Energy from C$16.00 to C$17.00 and gave the company an “outperform” rating in a research report on Thursday, July 4th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of C$12.56.

Innergex Renewable Energy Trading Down 0.9 %

The firm has a 50 day moving average price of C$9.68 and a two-hundred day moving average price of C$9.47. The company has a market cap of C$1.95 billion, a price-to-earnings ratio of -14.95, a PEG ratio of 20.61 and a beta of 0.36. The company has a quick ratio of 0.58, a current ratio of 0.57 and a debt-to-equity ratio of 428.86.

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

Innergex Renewable Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 15th were paid a $0.09 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.36 dividend on an annualized basis and a yield of 3.74%. Innergex Renewable Energy’s dividend payout ratio (DPR) is presently -55.38%.

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.