Innergex Renewable Energy (OTCMKTS:INGXF) Reaches New 52-Week Low on Analyst Downgrade

Innergex Renewable Energy Inc. (OTCMKTS:INGXF – Get Rating)’s share price hit a new 52-week low on Friday after Royal Bank of Canada lowered their price target on the stock from C$19.00 to C$17.00. The company traded as low as $10.00 and last traded at $10.12, with a volume of 9911 shares trading hands. The stock had previously closed at $10.57.

INGXF has been the subject of a number of other research reports. Scotiabank increased their price objective on shares of Innergex Renewable Energy from C$18.00 to C$19.25 in a report on Thursday, December 15th. TD Securities cut their price target on shares of Innergex Renewable Energy from C$19.50 to C$17.50 in a report on Friday. Raymond James downgraded shares of Innergex Renewable Energy from a “strong-buy” rating to an “outperform” rating in a report on Thursday. CIBC downgraded shares of Innergex Renewable Energy from an “outperform” rating to a “neutral” rating in a report on Monday, January 9th. Finally, BMO Capital Markets cut their price target on shares of Innergex Renewable Energy from C$19.00 to C$18.00 in a report on Thursday, January 19th.

Innergex Renewable Energy Trading Down 4.3 %

The firm has a market capitalization of $2.07 billion, a PE ratio of -30.67 and a beta of 0.53. The company’s 50-day moving average price is $11.88 and its 200-day moving average price is $12.62. The company has a debt-to-equity ratio of 3.51, a quick ratio of 0.80 and a current ratio of 0.80.

Innergex Renewable Energy Cuts Dividend

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The company also recently disclosed a dividend, which was paid on Monday, January 16th. Stockholders of record on Friday, December 30th were given a dividend of $0.1331 per share. The ex-dividend date was Thursday, December 29th. This represents a dividend yield of 4.4%. Innergex Renewable Energy’s dividend payout ratio (DPR) is currently -163.64%.

About Innergex Renewable Energy

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Innergex Renewable Energy, Inc engages in the development, acquisition, and operations of run-of-river hydroelectric facilities, wind farms, solar photovoltaic farms, and geothermal power generation plants. It operates through the following segments: Hydroelectric Generation, Wind Power Generation, and Solar Power Generation.