Innergex Renewable Energy Inc. (OTCMKTS:INGXF) Short Interest Down 9.3% in August

Innergex Renewable Energy Inc. (OTCMKTS:INGXF) saw a significant drop in short interest in the month of August. As of August 31st, there was short interest totalling 1,098,700 shares, a drop of 9.3% from the August 15th total of 1,211,300 shares. Based on an average daily trading volume, of 2,600 shares, the days-to-cover ratio is presently 422.6 days.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on INGXF. National Bank Financial lowered their target price on shares of Innergex Renewable Energy from C$19.00 to C$18.00 in a research note on Thursday, August 10th. Scotiabank lowered their target price on shares of Innergex Renewable Energy from C$19.25 to C$17.25 in a research note on Wednesday, June 28th. Finally, CIBC lowered their price objective on shares of Innergex Renewable Energy from C$16.50 to C$16.00 in a research note on Friday, July 21st.

Innergex Renewable Energy Stock Performance

Shares of OTCMKTS INGXF traded down $0.02 during midday trading on Tuesday, hitting $9.22. The company’s stock had a trading volume of 17,143 shares, compared to its average volume of 9,030. The business’s fifty day simple moving average is $9.49 and its two-hundred day simple moving average is $10.03. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 4.56. Innergex Renewable Energy has a 1 year low of $8.93 and a 1 year high of $14.54.

Innergex Renewable Energy (OTCMKTS:INGXF) last posted its quarterly earnings data on Tuesday, August 8th. The company reported $0.04 EPS for the quarter. The business had revenue of $187.56 million during the quarter. Innergex Renewable Energy had a negative net margin of 1.53% and a negative return on equity of 1.66%.

Innergex Renewable Energy Increases Dividend

The company also recently announced a dividend, which was paid on Monday, July 17th. Investors of record on Friday, June 30th were issued a $0.1336 dividend. This is a boost from Innergex Renewable Energy’s previous dividend of $0.13. The ex-dividend date of this dividend was Thursday, June 29th. This represents a yield of 5.31%. Innergex Renewable Energy’s dividend payout ratio (DPR) is -662.50%.

Innergex Renewable Energy Company Profile

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.