Innergex Renewable Energy (OTCMKTS:INGXF) Sets New 1-Year High – What’s Next?

Shares of Innergex Renewable Energy Inc. (OTCMKTS:INGXF) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $9.61 and last traded at $9.59, with a volume of 2125 shares trading hands. The stock had previously closed at $9.42.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Raymond James lowered shares of Innergex Renewable Energy from a “moderate buy” rating to a “hold” rating in a research 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 Trading Down 1.5 %

The firm has a 50-day moving average of $7.65 and a 200 day moving average of $6.80. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 4.50. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of 315.00 and a beta of 0.56.

Innergex Renewable Energy (OTCMKTS:INGXF) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.22. The company had revenue of $204.46 million during the quarter, compared to analysts’ expectations of $266.84 million. Innergex Renewable Energy had a return on equity of 4.40% and a net margin of 1.84%. As a group, equities analysts predict that Innergex Renewable Energy Inc. will post 0.09 EPS for the current fiscal year.

Innergex Renewable Energy Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st will be paid a dividend of $0.0624 per share. The ex-dividend date is Monday, March 31st. This represents a dividend yield of 2.64%. Innergex Renewable Energy’s dividend payout ratio is presently 800.00%.

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.