Innergex Renewable Energy Inc. (TSE:INE) Receives C$11.94 Consensus Target Price from Analysts

Innergex Renewable Energy Inc. (TSE:INE) has been given a consensus rating of “Moderate Buy” by the nine research firms that are currently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is C$11.94.

A number of brokerages recently commented on INE. 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. CIBC cut their price target on Innergex Renewable Energy from C$11.50 to C$11.00 in a report on Thursday, November 7th. Cormark decreased their price objective on Innergex Renewable Energy from C$10.00 to C$9.50 in a research note on Thursday, January 30th. Finally, National Bankshares cut their target price on Innergex Renewable Energy from C$17.00 to C$16.00 and set an “outperform” rating for the company in a research note on Tuesday, February 11th.

Innergex Renewable Energy Trading Up 10.6 %

Shares of Innergex Renewable Energy stock opened at C$8.52 on Friday. The company has a debt-to-equity ratio of 620.44, a quick ratio of 0.58 and a current ratio of 0.56. The stock has a market capitalization of C$1.75 billion, a P/E ratio of -13.66, a P/E/G ratio of 20.61 and a beta of 0.36. Innergex Renewable Energy has a 52-week low of C$6.98 and a 52-week high of C$10.96. The stock’s 50-day simple moving average is C$7.78 and its 200 day simple moving average is C$8.80.

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.