Innergex Renewable Energy Inc (TSE:INE) – Stock analysts at Raymond James reduced their FY2020 earnings estimates for Innergex Renewable Energy in a research note issued to investors on Wednesday, May 15th. Raymond James analyst D. Quezada now expects that the company will earn $0.48 per share for the year, down from their prior estimate of $0.53. Raymond James currently has a “Outperform” rating and a $17.00 target price on the stock.
INE has been the subject of several other reports. National Bank Financial upped their price target on shares of 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. TD Securities lowered shares of Innergex Renewable Energy from a “buy” rating to a “hold” rating and increased their target price for the stock from C$15.00 to C$16.00 in a research note on Friday, March 1st. Desjardins reissued an “average” rating and set a C$15.50 target price on shares of Innergex Renewable Energy in a research note on Wednesday, April 24th. Finally, BMO Capital Markets raised their price objective on shares of Innergex Renewable Energy from C$13.50 to C$15.00 and gave the company a “market perform” rating in a research note on Wednesday, February 13th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of C$15.86.
INE stock opened at C$14.01 on Monday. The company has a market cap of $1.86 billion and a P/E ratio of 68.01. Innergex Renewable Energy has a 1 year low of C$11.66 and a 1 year high of C$14.75. The company has a quick ratio of 0.29, a current ratio of 0.36 and a debt-to-equity ratio of 490.74.
Innergex Renewable Energy (TSE:INE) last released its quarterly earnings data on Wednesday, February 27th. The company reported C$0.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of C$0.06 by C$0.04. The company had revenue of C$166.16 million for the quarter, compared to analyst estimates of C$162.30 million.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 5.00%. The ex-dividend date of this dividend is Thursday, June 27th. Innergex Renewable Energy’s dividend payout ratio (DPR) is 330.10%.
In other Innergex Renewable Energy news, Director Daniel Lafrance acquired 2,000 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were purchased at an average cost of C$13.82 per share, with a total value of C$27,640.00. Following the completion of the purchase, the director now owns 35,000 shares of the company’s stock, valued at C$483,700.
Innergex Renewable Energy Company Profile
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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