Innergex Renewable Energy Inc. (TSE:INE) to Issue $0.09 Quarterly Dividend

Innergex Renewable Energy Inc. (TSE:INE) announced a quarterly dividend on Monday, March 31st, TickerTech Dividends reports. Investors of record on Tuesday, April 15th will be given a dividend of 0.09 per share on Tuesday, April 15th. This represents a $0.36 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend is Monday, March 31st.

Innergex Renewable Energy Price Performance

INE stock remained flat at C$13.57 during midday trading on Friday. The company’s stock had a trading volume of 571,412 shares, compared to its average volume of 1,257,442. The company has a debt-to-equity ratio of 620.44, a current ratio of 0.56 and a quick ratio of 0.58. The stock’s fifty day moving average price is C$10.41 and its 200 day moving average price is C$9.47. The stock has a market cap of C$2.78 billion, a price-to-earnings ratio of -21.76, a PEG ratio of 20.61 and a beta of 0.36. Innergex Renewable Energy has a 12 month low of C$6.98 and a 12 month high of C$13.63.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. National Bank Financial downgraded shares of Innergex Renewable Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 25th. Desjardins cut shares of Innergex Renewable Energy from a “buy” rating to a “tender” rating and decreased their target price for the stock from C$14.50 to C$13.75 in a research report on Wednesday, February 26th. Scotiabank dropped their price target on shares of Innergex Renewable Energy from C$11.50 to C$10.50 in a research note on Thursday, January 30th. National Bankshares downgraded Innergex Renewable Energy from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from C$16.00 to C$13.75 in a research report on Wednesday, February 26th. Finally, Cormark lowered their target price on Innergex Renewable Energy from C$10.00 to C$9.50 in a research report on Thursday, January 30th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of C$11.59.

Innergex Renewable Energy Company Profile

For over 30 years, Innergex has believed in a world where abundant renewable energy promotes healthier communities and creates shared prosperity, which led to Innergex being recognized as Canada’s best corporate citizens in 2023 by Corporate Knights. As an independent renewable power producer which develops, acquires, owns and operates hydroelectric facilities, wind farms, solar farms and energy storage facilities, Innergex is convinced that generating power from renewable sources will lead the way to a better world.