Innergex Renewable Energy (TSE:INE) Stock Passes Above 200 Day Moving Average of $14.38

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Shares of Innergex Renewable Energy Inc (TSE:INE) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $14.38 and traded as high as $15.03. Innergex Renewable Energy shares last traded at $14.94, with a volume of 47,941 shares traded.

Several equities research analysts have recently issued reports on INE shares. Raymond James reissued an “outperform” rating and set a C$17.50 price objective on shares of Innergex Renewable Energy in a research report on Wednesday, August 14th. TD Securities lowered their price objective on shares of Innergex Renewable Energy from C$16.00 to C$15.50 and set a “hold” rating for the company in a research report on Thursday, May 16th. Finally, BMO Capital Markets increased their price objective on shares of Innergex Renewable Energy from C$15.00 to C$16.00 in a research report on Wednesday, June 26th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of C$16.07.

The firm has a market cap of $2.00 billion and a P/E ratio of 147.03. The business’s 50-day moving average is C$14.90 and its two-hundred day moving average is C$14.39. The company has a debt-to-equity ratio of 676.08, a current ratio of 0.29 and a quick ratio of 0.20.

About Innergex Renewable Energy (TSE:INE)

Innergex Renewable Energy Inc operates as an independent renewable power producer. It develops, owns, and operates run-of-river hydroelectric facilities, wind farms, solar photovoltaic farms, and geothermal power facilities. The company operates through five segments: Hydroelectric Generation, Wind Power Generation, Solar Power Generation, Geothermal Generation, and Site Development.

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