Innergex Renewable Energy Inc. (TSE:INE) Expected to Post Q4 2022 Earnings of $0.11 Per Share

Innergex Renewable Energy Inc. (TSE:INEGet Rating) – Analysts at Raymond James cut their Q4 2022 earnings per share estimates for shares of Innergex Renewable Energy in a note issued to investors on Wednesday, January 18th. Raymond James analyst D. Quezada now anticipates that the company will post earnings per share of $0.11 for the quarter, down from their prior estimate of $0.12. The consensus estimate for Innergex Renewable Energy’s current full-year earnings is $0.38 per share.

Several other equities research analysts have also commented on the company. National Bankshares set a C$23.00 price objective on Innergex Renewable Energy and gave the stock an “outperform” rating in a research note on Monday, October 17th. Credit Suisse Group boosted their target price on Innergex Renewable Energy to C$22.00 and gave the stock an “outperform” rating in a report on Monday, November 21st. TD Securities upgraded Innergex Renewable Energy from a “hold” rating to a “buy” rating and set a C$19.50 target price on the stock in a report on Wednesday, November 9th. CIBC cut Innergex Renewable Energy from an “outperform” rating to a “neutral” rating in a report on Tuesday, January 10th. Finally, CSFB boosted their target price on Innergex Renewable Energy from C$21.50 to C$22.00 in a report on Monday, November 21st. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$20.85.

Innergex Renewable Energy Price Performance

Shares of Innergex Renewable Energy stock opened at C$15.95 on Monday. The company has a quick ratio of 0.58, a current ratio of 0.80 and a debt-to-equity ratio of 345.86. Innergex Renewable Energy has a twelve month low of C$14.23 and a twelve month high of C$20.46. The business has a 50-day moving average price of C$16.41 and a 200 day moving average price of C$17.40. The firm has a market cap of C$3.26 billion and a PE ratio of -167.89.

Innergex Renewable Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 16th. Investors of record on Monday, January 16th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 4.51%. The ex-dividend date was Thursday, December 29th. Innergex Renewable Energy’s dividend payout ratio is presently -757.89%.

About Innergex Renewable Energy

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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 hydroelectric facilities, and wind and solar farms, as well as energy storage facilities. The company operates through three segments: Hydroelectric Power Generation, Wind Power Generation, and Solar Power Generation.

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