Shares of Innergex Renewable Energy Inc (TSE:INE) have been given an average rating of “Buy” by the eight ratings firms that are currently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is C$17.00.

Several equities analysts have weighed in on INE shares. Raymond James Financial, Inc. lifted their target price on Innergex Renewable Energy from C$17.50 to C$18.50 and gave the company an “outperform” rating in a research report on Thursday, May 4th. AltaCorp Capital raised Innergex Renewable Energy from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, February 28th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Innergex Renewable Energy in a research report on Friday, February 24th. TD Securities reaffirmed a “hold” rating and issued a C$14.50 target price on shares of Innergex Renewable Energy in a research report on Monday, February 27th. Finally, Desjardins lifted their target price on Innergex Renewable Energy from C$15.50 to C$16.00 and gave the company a “buy” rating in a research report on Thursday, May 4th.

Innergex Renewable Energy (TSE INE) traded up 0.07% during mid-day trading on Tuesday, reaching $14.63. 7,845 shares of the company were exchanged. The stock’s 50-day moving average price is $14.40 and its 200-day moving average price is $14.19. Innergex Renewable Energy has a 1-year low of $12.43 and a 1-year high of $15.80. The stock has a market capitalization of $1.59 billion and a price-to-earnings ratio of 66.50.

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About Innergex Renewable Energy

Innergex Renewable Energy Inc is an independent renewable power producer. The Company is a developer, owner and operator of renewable power-generating facilities with a focus on hydroelectric, wind power and solar photovoltaic (PV) projects. It operates through four segments: hydroelectric generation, wind power generation, solar power generation and site development.

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