Innergex Renewable Energy (OTCMKTS:INGXF) Hits New 1-Year High - Here's What Happened

Innergex Renewable Energy Inc. (OTCMKTS:INGXF - Get Free Report) reached a new 52-week high in mid-day trading on Monday. The stock climbed to a peak of $9.47 before settling at $9.46, with a total trading volume of 1,619 shares. This was an increase from the previous closing price of $9.39.

Analyst Observations

Shares of Innergex Renewable Energy have been reviewed by various financial analysts. On February 25th, National Bank Financial downgraded the company from a 'strong-buy' rating to a 'hold' rating. Similarly, Raymond James also revised its recommendation for Innergex from a 'moderate buy' to a 'hold' in the same research note.

Stock Performance

As of now, Innergex Renewable Energy has seen a 0.8% increase in its stock price. Financial ratios show a quick ratio of 0.56 and a current ratio of 0.56, along with a debt-to-equity ratio of 4.50. The company's 50-day simple moving average is positioned at $6.47, while its 200-day moving average is at $6.52. Innergex has a market capitalization of $1.92 billion and a price-to-earnings (P/E) ratio of 315.33, with a beta value of 0.56.

In the most recent earnings report released on February 20th, the company showed earnings of $0.21 per share, which exceeded the expected consensus estimate of ($0.01) by $0.22. The net profit margin stood at 1.84%, while the return on equity was reported at 4.40%. For the quarter, Innergex reported a revenue of $204.46 million compared to analysts' estimates of $266.84 million. Analysts predict that the firm will achieve an earnings per share of 0.09 in the current fiscal year.

Dividend Adjustments

Recently, Innergex Renewable Energy announced a dividend which was executed on January 15th. Shareholders who were on record as of January 1st received a dividend of $0.0649 per share. The ex-dividend date for this payment was December 31st, providing a dividend yield of 4.6%. However, the company currently has a very high dividend payout ratio of 800.00%.

Company Overview

Innergex Renewable Energy Inc. acts as an independent producer of renewable energy, operating across Canada, the United States, France, and Chile. The company focuses on acquiring, owning, developing, and managing renewable power generation and energy storage facilities, with its main operations spanning hydroelectric, wind, and solar power sectors. It operates three segments: Hydroelectric Power Generation, Wind Power Generation, and Solar Power Generation.

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This report is crafted using cutting-edge technology and financial insights to provide timely and precise information. It has been reviewed for accuracy before publication.

Investment Consideration

If you are thinking about investing $1,000 in Innergex Renewable Energy right now, it might be wise to take a moment for careful consideration.

The latest data from financial advisors indicate that several top analysts recommend other stocks instead of Innergex right now.

Discover the five stocks that expert analysts believe present better investment opportunities at the moment.

Stocks, Investment, Renewable