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

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Raymond James downgraded shares of Innergex Renewable Energy from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, February 25th. National Bank Financial cut 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 0.2 %

The firm has a market cap of $1.92 billion, a P/E ratio of 315.83 and a beta of 0.56. The company’s 50 day simple moving average is $6.62 and its 200-day simple moving average is $6.56. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 4.50.

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

Innergex Renewable Energy Cuts Dividend

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