Innergex Renewable Energy (OTCMKTS:INGXF) Reaches New 12-Month High – Here’s Why

Innergex Renewable Energy Inc. (OTCMKTS:INGXF)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $9.77 and last traded at $9.74, with a volume of 1297 shares. The stock had previously closed at $9.72.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on INGXF. National Bank Financial cut Innergex Renewable Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 25th. Raymond James downgraded shares of Innergex Renewable Energy from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, February 25th.

Innergex Renewable Energy Stock Up 0.2 %

The stock has a market cap of $1.98 billion, a P/E ratio of 324.67 and a beta of 0.55. The company has a debt-to-equity ratio of 4.50, a quick ratio of 0.56 and a current ratio of 0.56. The firm’s 50-day moving average is $8.76 and its two-hundred day moving average is $6.97.

Innergex Renewable Energy (OTCMKTS:INGXF) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.22. The business had revenue of $204.46 million for the quarter, compared to analyst estimates of $266.84 million. Innergex Renewable Energy had a return on equity of 4.40% and a net margin of 1.84%. On average, equities research analysts anticipate that Innergex Renewable Energy Inc. will post 0.09 earnings per share for the current year.

Innergex Renewable Energy Cuts Dividend

The firm also recently declared a dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were paid a dividend of $0.0624 per share. This represents a dividend yield of 2.64%. The ex-dividend date of this dividend was Monday, March 31st. Innergex Renewable Energy’s dividend payout ratio (DPR) is 833.33%.

About Innergex Renewable Energy

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.