Innergex Renewable Energy Downgraded by National Bank Financial to Sector Perform (INE)
Innergex Renewable Energy (TSE:INE) was downgraded by analysts at National Bank Financial from an “outperform” rating to a “sector perform” rating in a research report issued to clients and investors on Friday, Stock Ratings Network reports.
Shares of Innergex Renewable Energy (TSE:INE) traded down 0.10% during mid-day trading on Friday, hitting $10.41. 317,147 shares of the company’s stock traded hands. Innergex Renewable Energy has a 1-year low of $8.37 and a 1-year high of $11.43. The stock has a 50-day moving average of $10.06 and a 200-day moving average of $9.79. The company has a market cap of $997.9 million and a P/E ratio of 24.23.
The company also recently announced a dividend, which is scheduled for Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.1354 per share. The ex-dividend date is Thursday, March 27th.
INE has been the subject of a number of other recent research reports. Analysts at NBF downgraded shares of Innergex Renewable Energy to a “sector perform” rating in a research note on Friday. Separately, analysts at BMO Capital Markets raised their price target on shares of Innergex Renewable Energy from C$10.00 to C$10.50 in a research note on Tuesday, March 25th. They now have a “market perform” rating on the stock. Finally, analysts at Scotiabank cut their price target on shares of Innergex Renewable Energy from C$11.00 to C$10.50 in a research note on Thursday, February 27th. They now have a “sector perform” rating on the stock. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of C$10.50.
Innergex Renewable Energy Inc is a developer, owner and operator of run-of-river hydroelectric facilities, wind energy farms and of solar photovoltaic (TSE:INE) farms in North America.
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