Innergex Renewable Energy Inc. (OTCMKTS:INGXF) Short Interest Down 28.4% in February

Innergex Renewable Energy Inc. (OTCMKTS:INGXF) saw a significant decrease in short interest in February. As of February 28th, there was short interest totalling 1,590,300 shares, a decrease of 28.4% from the February 13th total of 2,222,200 shares. Approximately 0.8% of the company’s shares are sold short. Based on an average daily volume of 205,200 shares, the short-interest ratio is presently 7.8 days.

Analyst Ratings Changes

Several equities research analysts recently issued reports on INGXF shares. Raymond James downgraded Innergex Renewable Energy from a “moderate buy” rating to a “hold” rating in a report on Tuesday, February 25th. National Bank Financial cut shares of Innergex Renewable Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 25th.

Innergex Renewable Energy Stock Up 0.8 %

Shares of OTCMKTS:INGXF traded up $0.08 on Tuesday, hitting $9.46. 1,619 shares of the company’s stock were exchanged, compared to its average volume of 80,369. The company has a market capitalization of $1.92 billion, a PE ratio of 315.33 and a beta of 0.56. The company has a debt-to-equity ratio of 4.50, a quick ratio of 0.56 and a current ratio of 0.56. Innergex Renewable Energy has a 1-year low of $4.81 and a 1-year high of $9.47. The firm’s 50-day moving average is $6.54 and its 200 day moving average is $6.54.

Innergex Renewable Energy (OTCMKTS:INGXF) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.21 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $204.46 million for the quarter, compared to analyst estimates of $266.84 million. Sell-side analysts predict that Innergex Renewable Energy will post 0.09 EPS for the current year.

Innergex Renewable Energy Cuts Dividend

The business also recently declared a dividend, which was paid on Wednesday, January 15th. Investors of record on Wednesday, January 1st were given a $0.0649 dividend. This represents a yield of 4.6%. The ex-dividend date was Tuesday, December 31st. Innergex Renewable Energy’s dividend payout ratio (DPR) 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.