Innergex Renewable Energy (OTCMKTS:INGXF) Given New $32.00 Price Target at CIBC

Innergex Renewable Energy (OTCMKTS:INGXF) had its price objective upped by CIBC from $26.00 to $32.00 in a research report sent to investors on Wednesday morning, The Fly reports. CIBC currently has a neutral rating on the stock.

INGXF has been the topic of several other reports. Raymond James raised their target price on Innergex Renewable Energy from $25.00 to $28.00 and gave the company an outperform rating in a report on Wednesday, October 28th. Royal Bank of Canada upped their target price on shares of Innergex Renewable Energy from $23.00 to $25.00 and gave the stock a sector perform rating in a report on Thursday, November 12th. Finally, Scotiabank raised their price target on Innergex Renewable Energy from $23.00 to $25.25 and gave the company a sector perform rating in a report on Friday, October 16th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Innergex Renewable Energy has an average rating of Hold and an average price target of $26.38.

Shares of OTCMKTS INGXF traded up $0.32 during mid-day trading on Wednesday, reaching $24.25. The company had a trading volume of 1,555 shares, compared to its average volume of 5,644. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 4.11. Innergex Renewable Energy has a 52 week low of $9.82 and a 52 week high of $25.50. The business’s 50-day moving average is $20.90 and its 200-day moving average is $18.20. The stock has a market cap of $4.23 billion, a price-to-earnings ratio of -48.84 and a beta of 0.50.

Innergex Renewable Energy (OTCMKTS:INGXF) last announced its quarterly earnings data on Tuesday, November 10th. The company reported $0.08 earnings per share (EPS) for the quarter. The firm had revenue of $122.08 million for the quarter. Innergex Renewable Energy had a negative return on equity of 1.81% and a negative net margin of 16.28%.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Thursday, December 31st will be given a dividend of $0.135 per share. This is an increase from Innergex Renewable Energy’s previous quarterly dividend of $0.13. This represents a $0.54 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date is Wednesday, December 30th.

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 hydroelectric facilities, wind farms, and solar farms. The company operates through three segments: Hydroelectric Generation, Wind Power Generation, and Solar Power Generation.

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