Innergex Renewable Energy (TSE:INE) Downgraded by Raymond James to Market Perform

Raymond James cut shares of Innergex Renewable Energy (TSE:INE) from an outperform rating to a market perform rating in a research note published on Wednesday morning,BayStreet.CA reports. They currently have C$13.75 price target on the stock, up from their previous price target of C$11.50.

A number of other analysts also recently commented on the company. Desjardins downgraded Innergex Renewable Energy from a “buy” rating to a “tender” rating and dropped their price objective for the stock from C$14.50 to C$13.75 in a research note on Wednesday. Scotiabank decreased their target price on Innergex Renewable Energy from C$11.50 to C$10.50 in a report on Thursday, January 30th. TD Securities lifted their target price on Innergex Renewable Energy from C$8.00 to C$9.00 and gave the stock a “hold” rating in a report on Friday, February 21st. National Bankshares cut Innergex Renewable Energy from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from C$16.00 to C$13.75 in a report on Wednesday. Finally, Cormark decreased their target price on Innergex Renewable Energy from C$10.00 to C$9.50 in a report on Thursday, January 30th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of C$11.59.

Innergex Renewable Energy Stock Down 0.1 %

INE opened at C$13.46 on Wednesday. Innergex Renewable Energy has a one year low of C$6.98 and a one year high of C$13.53. The company has a debt-to-equity ratio of 620.44, a quick ratio of 0.58 and a current ratio of 0.56. The stock’s fifty day moving average is C$8.00 and its 200-day moving average is C$8.84. The company has a market capitalization of C$2.76 billion, a PE ratio of -21.59, a P/E/G ratio of 20.61 and a beta of 0.36.

Innergex Renewable Energy Company Profile

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.