Innergex Renewable Energy (TSE:INE – Get Free Report) was downgraded by analysts at TD Securities from a “buy” rating to a “hold” rating in a research report issued on Friday, BayStreet.CA reports. They presently have a C$10.00 target price on the stock. TD Securities’ price objective points to a potential upside of 5.82% from the company’s previous close.
INE has been the topic of several other research reports. Desjardins lifted their target price on Innergex Renewable Energy from C$13.00 to C$14.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Cibc World Mkts raised Innergex Renewable Energy to a “hold” rating in a research note on Monday. National Bankshares lifted their price objective on Innergex Renewable Energy from C$16.00 to C$17.00 and gave the stock an “outperform” rating in a research note on Thursday, July 4th. Scotiabank lifted their price objective on Innergex Renewable Energy from C$10.50 to C$12.50 and gave the stock an “outperform” rating in a research note on Wednesday, June 12th. Finally, CIBC boosted their target price on Innergex Renewable Energy from C$11.00 to C$11.50 and gave the company a “neutral” rating in a research report on Monday. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$12.25.
Check Out Our Latest Analysis on Innergex Renewable Energy
Innergex Renewable Energy Stock Performance
Innergex Renewable Energy (TSE:INE – Get Free Report) last posted its quarterly earnings data on Wednesday, May 8th. The company reported C($0.11) earnings per share for the quarter, meeting analysts’ consensus estimates of C($0.11). Innergex Renewable Energy had a negative return on equity of 10.13% and a negative net margin of 11.78%. The firm had revenue of C$242.54 million for the quarter, compared to analysts’ expectations of C$240.80 million. As a group, sell-side analysts predict that Innergex Renewable Energy will post 0.0799919 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, Director Patrick Loulou bought 11,000 shares of the stock in a transaction on Thursday, June 20th. The stock was acquired at an average cost of C$10.25 per share, for a total transaction of C$112,750.00. Company insiders own 20.44% of the company’s stock.
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.
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