Executive Summary
Innergex Renewable Energy Inc. operates as an independent renewable power producer in Canada, the United States, France, and Chile. More Details
Rewards
Risk Analysis
Dividend of 3.34% is not well covered by earnings or forecast to be in the next 3 years
Snowflake Analysis
Moderate growth potential second-rate dividend payer.
Similar Companies
Share Price & News
How has Innergex Renewable Energy's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: INE is less volatile than 75% of Canadian stocks over the past 3 months, typically moving +/- 4% a week.
Volatility Over Time: INE's weekly volatility (4%) has been stable over the past year.
Market Performance
7 Day Return
5.1%
INE
-0.8%
CA Renewable Energy
-0.6%
CA Market
1 Year Return
-5.6%
INE
19.2%
CA Renewable Energy
28.9%
CA Market
Return vs Industry: INE underperformed the Canadian Renewable Energy industry which returned 19.2% over the past year.
Return vs Market: INE underperformed the Canadian Market which returned 29% over the past year.
Shareholder returns
| INE | Industry | Market | |
|---|---|---|---|
| 7 Day | 5.1% | -0.8% | -0.6% |
| 30 Day | 10.3% | 2.1% | 2.0% |
| 90 Day | 0.2% | 3.9% | 2.2% |
| 1 Year | -2.6%-5.6% | 22.9%19.2% | 32.8%28.9% |
| 3 Year | 85.1%63.6% | 123.7%95.6% | 32.4%19.9% |
| 5 Year | 77.0%42.5% | 140.1%89.0% | 52.2%29.7% |
Long-Term Price Volatility Vs. Market
How volatile is Innergex Renewable Energy's share price compared to the market and industry in the last 5 years?
Simply Wall St News
2 days ago | Simply Wall St
What Is The Ownership Structure Like For Innergex Renewable Energy Inc. (TSE:INE)?1 month ago | Simply Wall St
While shareholders of Innergex Renewable Energy (TSE:INE) are in the black over 3 years, those who bought a week ago aren't so fortunate2 months ago | Simply Wall St
Innergex Renewable Energy Inc. (TSE:INE) Insiders Increased Their HoldingsValuation
Is Innergex Renewable Energy undervalued compared to its fair value and its price relative to the market?
6.61x
Price to Book (PB) ratio
Share Price vs. Fair Value
Below Fair Value: INE (CA$21.56) is trading above our estimate of fair value (CA$14.5)
Significantly Below Fair Value: INE is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: INE is unprofitable, so we can't compare its PE Ratio to the Canadian Renewable Energy industry average.
PE vs Market: INE is unprofitable, so we can't compare its PE Ratio to the Canadian market.
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate INE's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: INE is overvalued based on its PB Ratio (6.6x) compared to the CA Renewable Energy industry average (2.4x).
Future Growth
How is Innergex Renewable Energy forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?
71.3%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: INE is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.5%).
Earnings vs Market: INE is forecast to become profitable over the next 3 years, which is considered above average market growth.
High Growth Earnings: INE's is expected to become profitable in the next 3 years.
Revenue vs Market: INE's revenue (4.1% per year) is forecast to grow slower than the Canadian market (6.1% per year).
High Growth Revenue: INE's revenue (4.1% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if INE's Return on Equity is forecast to be high in 3 years time
Past Performance
How has Innergex Renewable Energy performed over the past 5 years?
-69.5%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: INE is currently unprofitable.
Growing Profit Margin: INE is currently unprofitable.
Past Earnings Growth Analysis
Earnings Trend: INE is unprofitable, and losses have increased over the past 5 years at a rate of 69.5% per year.
Accelerating Growth: Unable to compare INE's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: INE is unprofitable, making it difficult to compare its past year earnings growth to the Renewable Energy industry (-25.1%).
Return on Equity
High ROE: INE has a negative Return on Equity (-17.43%), as it is currently unprofitable.
Financial Health
How is Innergex Renewable Energy's financial position?
Financial Position Analysis
Short Term Liabilities: INE's short term assets (CA$479.3M) do not cover its short term liabilities (CA$790.7M).
Long Term Liabilities: INE's short term assets (CA$479.3M) do not cover its long term liabilities (CA$5.2B).
Debt to Equity History and Analysis
Debt Level: INE's debt to equity ratio (574.1%) is considered high.
Reducing Debt: INE's debt to equity ratio has increased from 526.2% to 574.1% over the past 5 years.
Balance Sheet
Cash Runway Analysis
For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.
Stable Cash Runway: INE has sufficient cash runway for 7 months based on last reported free cash flow, but has since raised additional capital.
Forecast Cash Runway: Insufficient data to determine if INE has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.
Dividend
What is Innergex Renewable Energy current dividend yield, its reliability and sustainability?
3.34%
Current Dividend Yield
Upcoming Dividend Payment
Dividend Yield vs Market
Notable Dividend: INE's dividend (3.34%) is higher than the bottom 25% of dividend payers in the Canadian market (1.64%).
High Dividend: INE's dividend (3.34%) is low compared to the top 25% of dividend payers in the Canadian market (4.51%).
Stability and Growth of Payments
Stable Dividend: INE's dividends per share have been stable in the past 10 years.
Growing Dividend: INE's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: INE is paying a dividend but the company is unprofitable.
Future Payout to Shareholders
Future Dividend Coverage: INE's dividends in 3 years are not forecast to be well covered by earnings (277.4% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
6.7yrs
Average management tenure
CEO
Michel Letellier (56 yo)
13.92yrs
Tenure
CA$2,061,526
Compensation
Mr. Michel Letellier, MBA, has been the Chief Executive Officer and President of Innergex Renewable Energy Inc. since October 25, 2007. Mr. Letellier is responsible for providing strategic leadership and o...
CEO Compensation Analysis
Compensation vs Market: Michel's total compensation ($USD1.62M) is below average for companies of similar size in the Canadian market ($USD2.93M).
Compensation vs Earnings: Michel's compensation has increased whilst the company is unprofitable.
Leadership Team
Experienced Management: INE's management team is seasoned and experienced (6.7 years average tenure).
Board Members
Experienced Board: INE's board of directors are considered experienced (4 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 16.5%.
Top Shareholders
Company Information
Innergex Renewable Energy Inc.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Innergex Renewable Energy Inc.
- Ticker: INE
- Exchange: TSX
- Founded: 1990
- Industry: Renewable Electricity
- Sector: Utilities
- Market Cap: CA$4.380b
- Shares outstanding: 203.17m
- Website: https://www.innergex.com
Number of Employees
Location
- Innergex Renewable Energy Inc.
- 1225 Saint-Charles Street West
- 10th Floor
- Longueuil
- Quebec
- J4K 0B9
- Canada
Listings
Biography
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 w...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/09/18 22:05 |
| End of Day Share Price | 2021/09/17 00:00 |
| Earnings | 2021/06/30 |
| Annual Earnings | 2020/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.