Innergex Renewable Energy Inc (INE) Receives Average Rating of “Hold” from Brokerages
Innergex Renewable Energy Inc (TSE:INE) has earned an average recommendation of “Buy” from the seven ratings firms that are presently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is C$16.80.
A number of analysts have recently issued reports on INE shares. Raymond James Financial, Inc. raised their price objective 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 cut Innergex Renewable Energy from an “outperform” rating to a “sector perform” rating in a research report on Thursday, May 4th. TD Securities raised their price objective on Innergex Renewable Energy from C$14.50 to C$15.00 and gave the company a “hold” rating in a research report on Friday, May 5th. Finally, Desjardins raised their price objective 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.
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Shares of Innergex Renewable Energy (TSE INE) traded up 0.83% during midday trading on Monday, hitting $14.60. The stock had a trading volume of 21,932 shares. The firm’s 50-day moving average is $14.50 and its 200 day moving average is $14.22. Innergex Renewable Energy has a one year low of $12.43 and a one year high of $15.80. The company has a market capitalization of $1.58 billion and a PE ratio of 66.36.
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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