Desjardins Trims Innergex Renewable Energy (TSE:INE) Target Price to C$13.00

Innergex Renewable Energy (TSE:INE) had its target price decreased by stock analysts at Desjardins from C$14.00 to C$13.00 in a research note issued on Tuesday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Desjardins’ price target suggests a potential upside of 58.15% from the stock’s previous close.

Several other analysts have also recently commented on INE. Royal Bank of Canada lowered their target price on shares of Innergex Renewable Energy from C$13.00 to C$11.00 and set a “sector perform” rating for the company in a research note on Monday, February 12th. CIBC lifted their target price on shares of Innergex Renewable Energy from C$9.00 to C$9.50 and gave the stock a “neutral” rating in a research note on Friday, February 23rd. BMO Capital Markets lowered their target price on shares of Innergex Renewable Energy from C$10.00 to C$9.00 and set an “outperform” rating for the company in a research note on Thursday, February 22nd. Raymond James lowered their price objective on shares of Innergex Renewable Energy from C$15.00 to C$13.00 and set an “outperform” rating for the company in a research note on Thursday, February 22nd. Finally, TD Securities lowered their price objective on shares of Innergex Renewable Energy from C$12.00 to C$10.00 and set a “buy” rating for the company in a research note on Wednesday, February 14th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$12.47.

Innergex Renewable Energy Trading Up 2.4 %

Shares of Innergex Renewable Energy stock opened at C$8.22 on Tuesday. The company has a debt-to-equity ratio of 544.43, a current ratio of 0.92 and a quick ratio of 0.58. Innergex Renewable Energy has a 1 year low of C$7.05 and a 1 year high of C$14.40. The company has a market capitalization of C$1.68 billion, a P/E ratio of -16.12, a P/E/G ratio of 20.61 and a beta of 0.35. The business has a 50 day moving average price of C$8.08 and a 200 day moving average price of C$8.70.

Innergex Renewable Energy (TSE:INE) last released its earnings results on Wednesday, February 21st. The company reported C($0.03) EPS for the quarter, topping the consensus estimate of C($0.04) by C$0.01. The firm had revenue of C$261.53 million during the quarter, compared to analysts’ expectations of C$264.85 million. Innergex Renewable Energy had a negative net margin of 9.45% and a negative return on equity of 7.86%. Sell-side analysts anticipate that Innergex Renewable Energy will post 0.0799919 EPS for the current fiscal year.

Insider Buying and Selling at Innergex Renewable Energy

In related news, Senior Officer Jean Trudel purchased 13,000 shares of Innergex Renewable Energy stock in a transaction dated Monday, February 26th. The shares were acquired at an average price of C$7.68 per share, with a total value of C$99,840.00. In other Innergex Renewable Energy news, Senior Officer Jean Trudel bought 13,000 shares of the business’s stock in a transaction on Monday, February 26th. The shares were purchased at an average price of C$7.68 per share, with a total value of C$99,840.00. Also, Director Daniel Lafrance bought 5,000 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was acquired at an average cost of C$8.35 per share, for a total transaction of C$41,750.00. Insiders bought a total of 22,125 shares of company stock valued at $174,975 in the last ninety days. Insiders own 20.41% of the company’s stock.

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 renewable power-generating and energy storage facilities primarily in hydroelectric, wind, and solar power sectors. The company operates through three segments: Hydroelectric Power Generation, Wind Power Generation, and Solar Power Generation.