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

Innergex Renewable Energy Inc. (TSE:INE) declared a quarterly dividend on Monday, March 31st, TickerTech Dividends reports. Shareholders 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

Shares of TSE:INE remained flat at C$13.57 during trading on Friday. 571,412 shares of the company’s stock were exchanged, compared to its average volume of 1,257,442. Innergex Renewable Energy has a 52 week low of C$6.98 and a 52 week high of C$13.63. The company has a current ratio of 0.56, a quick ratio of 0.58 and a debt-to-equity ratio of 620.44. The firm has a market cap of C$2.78 billion, a price-to-earnings ratio of -21.76, a P/E/G ratio of 20.61 and a beta of 0.36. The company has a fifty day simple moving average of C$10.41 and a two-hundred day simple moving average of C$9.47.

Wall Street Analysts Forecast Growth

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

About Innergex Renewable Energy

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.