Innergex Renewable Energy (OTCMKTS:INGXF) Stock Passes Above 50 Day Moving Average – Here’s What Happened

Innergex Renewable Energy Inc. (OTCMKTS:INGXF)’s stock price passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $9.77 and traded as high as $10.05. Innergex Renewable Energy shares last traded at $10.05, with a volume of 117 shares changing hands.

Analysts Set New Price Targets

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

Innergex Renewable Energy Stock Down 0.0%

The company has a debt-to-equity ratio of 4.50, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of 334.93 and a beta of 0.61. The firm has a 50-day moving average price of $9.77 and a two-hundred day moving average price of $7.79.

Innergex Renewable Energy (OTCMKTS:INGXF) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.01. The company had revenue of $188.64 million during the quarter, compared to analysts’ expectations of $277.44 million. Innergex Renewable Energy had a return on equity of 4.40% and a net margin of 1.84%. As a group, sell-side analysts anticipate that Innergex Renewable Energy Inc. will post 0.09 earnings per share for the current fiscal year.

Innergex Renewable Energy Cuts Dividend

The business also recently declared a dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were given a dividend of $0.0624 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a yield of 2.64%. Innergex Renewable Energy’s dividend payout ratio (DPR) is presently 185.71%.

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.