(INE) Innergex Renewable Energy - Ratings and Ratios

Innergex Renewable Energy Inc. (Ticker: INE) is a leading independent renewable power producer with operations in Canada, the United States, France, and Chile. The company specializes in the development, acquisition, and operation of renewable energy facilities across three core segments: Hydroelectric, Wind, and Solar and Storage. As of February 21, 2024, its portfolio comprises 90 facilities with a combined net installed capacity of 3,708 megawatts, including 42 hydroelectric facilities, 36 wind farms, 9 solar installations, and 3 battery energy storage systems. Headquartered in Longueuil, Canada, Innergex has been a key player in the renewable energy sector since its founding in 1990.

From a technical standpoint, INE is currently trading at CAD 13.61, with a 20-day moving average of 13.50 and a 50-day moving average of 12.81. The stock has shown upward momentum in recent weeks, crossing above its SMA50, but remains below its SMA200 of 9.80, indicating longer-term growth potential. The average trading volume over the past 20 days is 789,800 shares, with an ATR of 0.07, suggesting relatively low volatility.

Fundamentally, Innergex has a market capitalization of CAD 2,719.97 million, with a price-to-earnings (P/E) ratio of 269.60 and a forward P/E of 666.67, reflecting high valuation multiples. The price-to-book (P/B) ratio of 2.73 and price-to-sales (P/S) ratio of 2.64 indicate a premium valuation relative to its book value and revenue. The return on equity (RoE) stands at 1.41%, which is modest compared to industry peers.