Innergex Renewable Energy Inc. (INE) To Go Ex-Dividend on March 31st

Innergex Renewable Energy Inc. (TSE:INE) declared a quarterly dividend on Monday, March 31st, TickerTech Dividends reports. Investors of record on Tuesday, April 15th will be given a dividend of 0.09 per share on Tuesday, April 15th. This represents a $0.36 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend is Monday, March 31st.

Innergex Renewable Energy Price Performance

TSE INE remained flat at C$13.57 during trading hours on Friday. The company had a trading volume of 571,412 shares, compared to its average volume of 1,257,442. The business’s fifty day moving average is C$10.41 and its 200 day moving average is C$9.47. The stock has a market cap of C$2.78 billion, a P/E ratio of -21.76, a price-to-earnings-growth ratio of 20.61 and a beta of 0.36. Innergex Renewable Energy has a 52-week low of C$6.98 and a 52-week high of C$13.63. The company has a debt-to-equity ratio of 620.44, a current ratio of 0.56 and a quick ratio of 0.58.

Analyst Upgrades and Downgrades

INE has been the topic of several recent research reports. Cormark reduced their price target on Innergex Renewable Energy from C$10.00 to C$9.50 in a research report on Thursday, January 30th. National Bank Financial cut shares of Innergex Renewable Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Desjardins lowered shares of Innergex Renewable Energy from a “buy” rating to a “tender” rating and lowered their price target for the company from C$14.50 to C$13.75 in a report on Wednesday, February 26th. Raymond James lowered shares of Innergex Renewable Energy from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from C$11.50 to C$13.75 in a report on Wednesday, February 26th. Finally, TD Securities lifted their target price on Innergex Renewable Energy from C$8.00 to C$9.00 and gave the stock a “hold” rating in a research report on Friday, February 21st. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of C$11.59.

About Innergex Renewable Energy

For over 30 years, Innergex has believed in a world where abundant renewable energy promotes healthier communities and creates shared prosperity, which led to Innergex being recognized as Canada’s best corporate citizens in 2023 by Corporate Knights. As an independent renewable power producer which develops, acquires, owns and operates hydroelectric facilities, wind farms, solar farms and energy storage facilities, Innergex is convinced that generating power from renewable sources will lead the way to a better world.