Innergex Renewable Energy Inc. (OTCMKTS:INGXF) Short Interest Down 9.3% in August

Innergex Renewable Energy Inc. (OTCMKTS:INGXF) was the recipient of a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 1,098,700 shares, a decrease of 9.3% from the August 15th total of 1,211,300 shares. Based on an average trading volume of 2,600 shares, the days-to-cover ratio is presently 422.6 days.

Innergex Renewable Energy Price Performance

Shares of INGXF traded down $0.02 during trading on Tuesday, reaching $9.22. The company’s stock had a trading volume of 17,143 shares, compared to its average volume of 9,030. The company has a debt-to-equity ratio of 4.56, a quick ratio of 0.97 and a current ratio of 0.97. Innergex Renewable Energy has a twelve month low of $8.93 and a twelve month high of $14.54. The company has a fifty day moving average of $9.49 and a two-hundred day moving average of $10.03.

Innergex Renewable Energy (OTCMKTS:INGXF) last posted its quarterly earnings results on Tuesday, August 8th. The company reported $0.04 earnings per share (EPS) for the quarter. The business had revenue of $187.56 million for the quarter. Innergex Renewable Energy had a negative return on equity of 1.66% and a negative net margin of 1.53%.

Innergex Renewable Energy Increases Dividend

The company also recently declared a dividend, which was paid on Monday, July 17th. Investors of record on Friday, June 30th were given a dividend of $0.1336 per share. This is a positive change from Innergex Renewable Energy’s previous dividend of $0.13. This represents a dividend yield of 5.31%. The ex-dividend date was Thursday, June 29th. Innergex Renewable Energy’s dividend payout ratio is currently -662.50%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on INGXF. CIBC decreased their price target on Innergex Renewable Energy from C$16.50 to C$16.00 in a report on Friday, July 21st. National Bank Financial decreased their price target on Innergex Renewable Energy from C$19.00 to C$18.00 in a report on Thursday, August 10th. Finally, Scotiabank cut their target price on Innergex Renewable Energy from C$19.25 to C$17.25 in a research report on Wednesday, June 28th.

About Innergex Renewable Energy

Innergex Renewable Energy Inc operates as an independent renewable power producer in Canada, the United States, France, and Chile. It acquires, owns, develops, and operates hydroelectric facilities, and wind and solar farms, as well as energy storage facilities. The company operates through three segments: Hydroelectric Power Generation, Wind Power Generation, and Solar Power Generation.