Cormark Lowers Innergex Renewable Energy (TSE:INE) Price Target to C$19.00

Innergex Renewable Energy (TSE:INE – Get Rating) had its price objective cut by Cormark from C$20.00 to C$19.00 in a report issued on Tuesday, BayStreet.CA reports.

INE has been the subject of several other research reports. National Bankshares set a C$23.00 price objective on shares of Innergex Renewable Energy and gave the company an outperform rating in a research note on Monday, October 17th. CIBC lowered shares of Innergex Renewable Energy from an outperform rating to a neutral rating in a research note on Tuesday, January 10th. CSFB lifted their price objective on shares of Innergex Renewable Energy from C$21.50 to C$22.00 in a research note on Monday, November 21st. BMO Capital Markets reduced their price objective on shares of Innergex Renewable Energy from C$19.00 to C$18.00 in a research note on Thursday, January 19th. Finally, Scotiabank reduced their price objective on shares of Innergex Renewable Energy from C$21.50 to C$18.00 in a research note on Thursday, October 20th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Innergex Renewable Energy currently has a consensus rating of Moderate Buy and an average price target of C$20.45.

Innergex Renewable Energy Trading Down 0.7 %

Innergex Renewable Energy stock opened at C$16.17 on Tuesday. The company’s fifty day simple moving average is C$16.41 and its 200-day simple moving average is C$17.37. 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 12 month low of C$14.23 and a 12 month high of C$20.46. The stock has a market cap of C$3.30 billion and a P/E ratio of -170.21.

Innergex Renewable Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, January 16th. Shareholders of record on Monday, January 16th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date was Thursday, December 29th. Innergex Renewable Energy’s dividend payout ratio is -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.