Innergex Renewable Energy (TSE:INE) Share Price Passes Above 200 Day Moving Average – Time to Sell?

Innergex Renewable Energy Inc. (TSE:INE) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$9.84 and traded as high as C$13.55. Innergex Renewable Energy shares last traded at C$13.55, with a volume of 712,488 shares trading hands.

Analyst Ratings Changes

INE has been the topic of several research analyst reports. TD Securities increased their price target on shares of Innergex Renewable Energy from C$8.00 to C$9.00 and gave the company a “hold” rating in a report on Friday, February 21st. National Bankshares lowered Innergex Renewable Energy from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from C$16.00 to C$13.75 in a report on Wednesday, February 26th. Cormark decreased their price target on shares of Innergex Renewable Energy from C$10.00 to C$9.50 in a research note on Thursday, January 30th. Desjardins cut shares of Innergex Renewable Energy from a “buy” rating to a “tender” rating and lowered their target price for the stock from C$14.50 to C$13.75 in a report on Wednesday, February 26th. Finally, Raymond James downgraded Innergex Renewable Energy from an “outperform” rating to a “market perform” rating and increased their price target for the stock from C$11.50 to C$13.75 in a research report on Wednesday, February 26th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of C$11.59.

Innergex Renewable Energy Stock Performance

The stock has a fifty day simple moving average of C$12.24 and a two-hundred day simple moving average of C$9.89. The firm has a market capitalization of C$2.76 billion, a P/E ratio of -21.62, a P/E/G ratio of 20.61 and a beta of 0.36. The company has a debt-to-equity ratio of 620.44, a current ratio of 0.56 and a quick ratio of 0.58.

Innergex Renewable Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 15th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.67%. Innergex Renewable Energy’s dividend payout ratio (DPR) is presently -57.74%.

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.