Innergex Renewable Energy Inc. (TSE:INE) Director Buys C$29,947.06 in Stock

Innergex Renewable Energy Inc. (TSE:INE) Director Richard Gagnon bought 3,320 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The stock was acquired at an average price of C$9.02 per share, with a total value of C$29,947.06.

Innergex Renewable Energy Price Performance

Shares of TSE INE opened at C$9.78 on Thursday. Innergex Renewable Energy Inc. has a 1-year low of C$8.51 and a 1-year high of C$18.05. The business has a 50-day moving average of C$10.22 and a 200-day moving average of C$12.11. The company has a debt-to-equity ratio of 440.26, a current ratio of 0.96 and a quick ratio of 0.58. The company has a market capitalization of C$2.00 billion, a price-to-earnings ratio of -57.53, a PEG ratio of 20.61 and a beta of 0.40.

Innergex Renewable Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Friday, December 29th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 7.36%. The ex-dividend date is Thursday, December 28th. Innergex Renewable Energy’s payout ratio is -423.53%.

Analyst Ratings Changes

Several research firms recently commented on INE. Desjardins dropped their target price on Innergex Renewable Energy from C$16.50 to C$14.00 and set a “buy” rating for the company in a research note on Wednesday, October 25th. Raymond James dropped their target price on Innergex Renewable Energy from C$21.50 to C$15.00 and set an “outperform” rating for the company in a research note on Thursday, October 26th. National Bankshares lowered their price target on Innergex Renewable Energy from C$16.00 to C$15.50 and set an “outperform” rating for the company in a research report on Friday, November 10th. BMO Capital Markets lowered their price target on Innergex Renewable Energy from C$17.50 to C$14.00 and set an “outperform” rating for the company in a research report on Thursday, November 9th. Finally, TD Securities lowered their price target on Innergex Renewable Energy from C$15.00 to C$12.00 and set a “buy” rating for the company in a research report on Wednesday, October 18th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$15.89.

About Innergex Renewable Energy

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.