Innergex Renewable Energy (OTCMKTS:INGXF) Reaches New 52-Week High – Here’s Why

Shares of Innergex Renewable Energy Inc. (OTCMKTS:INGXF) reached a new 52-week high on Monday . The stock traded as high as $9.47 and last traded at $9.46, with a volume of 1619 shares. The stock had previously closed at $9.39.

Wall Street Analysts Forecast Growth

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

Innergex Renewable Energy Stock Up 0.8 %

The company has a debt-to-equity ratio of 4.50, a quick ratio of 0.56 and a current ratio of 0.56. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of 315.33 and a beta of 0.56. The stock’s fifty day simple moving average is $6.47 and its two-hundred day simple moving average is $6.52.

Innergex Renewable Energy (OTCMKTS:INGXF) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.22. Innergex Renewable Energy had a net margin of 1.84% and a return on equity of 4.40%. The company had revenue of $204.46 million during the quarter, compared to the consensus estimate of $266.84 million. On average, sell-side analysts anticipate that Innergex Renewable Energy Inc. will post 0.09 EPS for the current year.

Innergex Renewable Energy Cuts Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, January 15th. Shareholders of record on Wednesday, January 1st were issued a dividend of $0.0649 per share. The ex-dividend date was Tuesday, December 31st. This represents a yield of 4.6%. Innergex Renewable Energy’s payout ratio is presently 800.00%.

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.