Innergex Renewable Energy (INE) Given a C$17.00 Price Target by Raymond James Analysts

Innergex Renewable Energy (INE) Given a C$17.00 Price Target by Raymond James Analysts

Raymond James set a C$17.00 price objective on Innergex Renewable Energy (TSE:INE) in a report released on Wednesday morning, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

INE has been the subject of a number of other research reports. National Bank Financial boosted their price target on Innergex Renewable Energy from C$17.50 to C$18.50 and gave the company an outperform rating in a research report on Tuesday, February 19th. BMO Capital Markets boosted their price target on Innergex Renewable Energy from C$13.50 to C$15.00 and gave the company a market perform rating in a research report on Wednesday, February 13th. TD Securities downgraded Innergex Renewable Energy from a buy rating to a hold rating and boosted their price target for the company from C$15.00 to C$16.00 in a research report on Friday, March 1st. Finally, Desjardins reissued an average rating and set a C$15.50 price target on shares of Innergex Renewable Energy in a research report on Wednesday, April 24th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has an average rating of Hold and an average target price of C$15.93.

INE stock traded up C$0.02 during trading on Wednesday, reaching C$13.76. 19,388 shares of the stock traded hands, compared to its average volume of 267,283. Innergex Renewable Energy has a 52-week low of C$11.66 and a 52-week high of C$14.75. The company has a current ratio of 0.36, a quick ratio of 0.29 and a debt-to-equity ratio of 490.74. The company has a market cap of $1.88 billion and a PE ratio of 66.70.

Innergex Renewable Energy (TSE:INE) last posted its quarterly earnings results on Wednesday, February 27th. The company reported C$0.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of C$0.06 by C$0.04. The firm had revenue of C$166.16 million for the quarter, compared to analysts’ expectations of C$162.30 million. Equities analysts forecast that Innergex Renewable Energy will post 0.409999961404783 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 5.09%. The ex-dividend date is Thursday, June 27th. Innergex Renewable Energy’s payout ratio is 330.10%.

About Innergex Renewable Energy

Innergex Renewable Energy Inc operates as an independent renewable power producer. It develops, owns, and operates run-of-river hydroelectric facilities, wind farms, solar photovoltaic farms, and geothermal power facilities. The company operates through five segments: Hydroelectric Generation, Wind Power Generation, Solar Power Generation, Geothermal Generation, and Site Development.

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