Innergex Renewable Energy (TSE:INE) Stock Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Innergex Renewable Energy Inc. (TSE:INE)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$9.36 and traded as high as C$9.59. Innergex Renewable Energy shares last traded at C$9.50, with a volume of 595,543 shares.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Cormark cut shares of Innergex Renewable Energy from a “moderate buy” rating to a “hold” rating in a research note on Friday, August 9th. National Bankshares upped their target price on Innergex Renewable Energy from C$16.00 to C$17.00 and gave the company an “outperform” rating in a research report on Thursday, July 4th. CIBC raised their price target on Innergex Renewable Energy from C$11.00 to C$11.50 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Cibc World Mkts raised shares of Innergex Renewable Energy to a “hold” rating in a research report on Monday, July 22nd. Finally, BMO Capital Markets raised their target price on shares of Innergex Renewable Energy from C$11.00 to C$11.50 in a report on Thursday, September 5th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$12.56.

Innergex Renewable Energy Stock Up 0.1 %

The company has a debt-to-equity ratio of 428.86, a current ratio of 0.57 and a quick ratio of 0.58. The firm’s fifty day moving average price is C$9.62 and its two-hundred day moving average price is C$9.37. The stock has a market cap of C$1.93 billion, a price-to-earnings ratio of -14.63, a price-to-earnings-growth ratio of 20.61 and a beta of 0.34.

Innergex Renewable Energy (TSE:INE) last announced its quarterly earnings data on Wednesday, August 7th. The company reported C($0.03) EPS for the quarter, missing analysts’ consensus estimates of C($0.02) by C($0.01). Innergex Renewable Energy had a negative net margin of 11.96% and a negative return on equity of 9.27%. The firm had revenue of C$239.51 million during the quarter, compared to analyst estimates of C$256.60 million. Sell-side analysts forecast that Innergex Renewable Energy Inc. will post 0.149517 earnings per share for the current fiscal year.

Innergex Renewable Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 15th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date is Friday, September 27th. Innergex Renewable Energy’s dividend payout ratio is currently -55.38%.

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.