Innergex Renewable Energy (OTCMKTS:INGXF) Reaches New 1-Year High – Still a Buy?

Innergex Renewable Energy Inc. (OTCMKTS:INGXF)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $9.77 and last traded at $9.74, with a volume of 1297 shares changing hands. The stock had previously closed at $9.72.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on INGXF shares. Raymond James cut shares of Innergex Renewable Energy from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, February 25th. National Bank Financial lowered Innergex Renewable Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 25th.

Innergex Renewable Energy Trading Up 0.2 %

The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 4.50. The firm has a market capitalization of $1.98 billion, a P/E ratio of 324.67 and a beta of 0.55. The business has a 50 day moving average of $8.76 and a 200-day moving average of $6.97.

Innergex Renewable Energy (OTCMKTS:INGXF) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.22. The business had revenue of $204.46 million for the quarter, compared to analyst estimates of $266.84 million. Innergex Renewable Energy had a net margin of 1.84% and a return on equity of 4.40%. Analysts anticipate that Innergex Renewable Energy Inc. will post 0.09 EPS for the current fiscal year.

Innergex Renewable Energy Cuts Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st were given a dividend of $0.0624 per share. The ex-dividend date was Monday, March 31st. This represents a dividend yield of 2.64%. Innergex Renewable Energy’s dividend payout ratio is currently 833.33%.

Innergex Renewable Energy Company Profile

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.