According to Bloomberg Ratings, the ten research firms currently covering Innergex Renewable Energy Inc. have collectively assigned the company a rating of “Moderate Buy” as their average recommendation for the stock (TSE: INE). Two additional financial analysts have added their voices to the chorus of those advising investors to purchase the stock, bringing the total number of such recommendations up to four. Most analysts who have updated their company coverage in the preceding year have concluded that a price target of C$21.06 for the stock over the following year should be considered reasonable.
In recent years, there has been an increase in the number of analyst studies focused on INE.In light of the findings of a study released on January 10, the rating of “outperform” given to Innergex Renewable Energy by CIBC was changed to “neutral.” In a research report that was made public on October 17, National Bankshares assigned an “outperform” rating to Innergex Renewable Energy and established a price objective of C$23.00 for the company. This information was included in the report. In a report made available to the public on Thursday, October 20, Scotiabank stated that the price goal it had established for common shares of Innergex Renewable Energy had decreased from C$21.50 to C$18.00. This change resulted from the bank’s recent review of the company’s financial performance. Credit Suisse Group upgraded their price target on Innergex Renewable Energy shares to C$22.00 and gave the company an “outperform” rating in a research note published on November 21. The note contains this information as well as others. The price objective that CSFB has placed on shares of Innergex Renewable Energy has increased from C$21.50 to C$22.00, as stated in a research note published on November 21. This was the last and most significant point discussed in the paper.
Thursday marked the first day of trading for TSE: INE shares and the opening price was C$16.26 per share. The company’s moving average over the previous 200 days is $17.43, while the moving average over the previous 50 days is $16.42. The company has a price-to-earnings ratio of -17.16, resulting in a market capitalization of $3.32 billion. During the past year, the price of Innergex Renewable Energy has fluctuated between a low of $14.23 and a high of $20.46, which is a record price for the product. Currently, the debt-to-equity ratio stands at 345.86, the current ratio stands at 0.80, and the quick ratio stands at 0.58.
In addition, the organization announced a quarterly dividend, which was paid out on January 16. On Monday, January 16, shareholders of record were each given a dividend payment of $0.18. This payment was made. This translates to a yield of 4.43% and a dividend payment of $0.72 yearly for each shareholder. Thursday, December 29, was the day that the dividend was disbursed; that day was also the month of December. The payout ratio for Innergex Renewable Energy is currently at -757.89%.
In addition to its operations in the United States of America, Canada, France, and Chile, Innergex Renewable Energy Inc. is an independent producer of renewable energy. The company has a presence in all of these countries. In addition to hydroelectric power plants, wind farms, and solar farms, the corporation is responsible for acquiring, developing, and operating all of the facilities that store energy. It is possible to classify the business into three distinct subfields: hydroelectric power generation, wind power generation, and solar power generation.