Innergex Renewable Energy (TSE:INE) Stock Passes Above Two Hundred Day Moving Average of $20.64

Innergex Renewable Energy Inc (TSE:INE)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $20.64 and traded as high as $26.06. Innergex Renewable Energy shares last traded at $25.99, with a volume of 346,628 shares changing hands.

A number of research analysts have weighed in on the stock. CIBC boosted their target price on shares of Innergex Renewable Energy from C$22.50 to C$23.00 in a research report on Thursday, August 6th. Scotiabank lifted their price objective on Innergex Renewable Energy from C$22.50 to C$23.00 in a research note on Wednesday, August 5th. BMO Capital Markets increased their target price on Innergex Renewable Energy from C$21.00 to C$23.00 in a research note on Wednesday, August 5th. TD Securities lifted their price target on Innergex Renewable Energy from C$23.00 to C$25.00 and gave the stock a “hold” rating in a research report on Thursday, August 6th. Finally, Raymond James cut Innergex Renewable Energy from a “strong-buy” rating to an “outperform” rating and set a C$25.00 price objective for the company. in a research report on Wednesday, August 5th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Innergex Renewable Energy presently has an average rating of “Buy” and an average target price of C$23.79.

The firm has a 50 day moving average of C$23.22 and a 200-day moving average of C$20.64. The company has a debt-to-equity ratio of 402.61, a current ratio of 0.63 and a quick ratio of 0.55. The stock has a market capitalization of $4.53 billion and a P/E ratio of -41.45.

Innergex Renewable Energy (TSE:INE) last announced its quarterly earnings data on Tuesday, August 4th. The company reported C$0.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.10 by C($0.08). The firm had revenue of C$150.51 million during the quarter, compared to the consensus estimate of C$152.30 million. As a group, equities analysts expect that Innergex Renewable Energy Inc will post 0.34 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Thursday, October 15th will be given a $0.18 dividend. The ex-dividend date is Tuesday, September 29th. This represents a $0.72 annualized dividend and a yield of 2.77%. Innergex Renewable Energy’s dividend payout ratio (DPR) is currently -114.83%.

In other news, Director Ross J. Beaty sold 1,100,000 shares of the stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of C$21.70, for a total value of C$23,870,000.00. Following the completion of the transaction, the director now owns 1,349,327 shares in the company, valued at approximately C$29,280,395.90.

About Innergex Renewable Energy (TSE:INE)

Innergex Renewable Energy Inc operates as an independent renewable power producer. It develops, owns, and operates run-of-river hydroelectric facilities, wind farms, solar photovoltaic farms, and geothermal power facilities. The company operates through five segments: Hydroelectric Generation, Wind Power Generation, Solar Power Generation, Geothermal Generation, and Site Development.

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