TSX:INE

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Innergex Renewable Energy

Executive Summary

Innergex Renewable Energy Inc. operates as an independent renewable power producer in Canada, the United States, France, and Chile. More Details


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 +/- 3% a week.

Volatility Over Time: INE's weekly volatility (3%) has been stable over the past year.


Market Performance


7 Day Return

6.7%

INE

8.2%

CA Renewable Energy

2.7%

CA Market


1 Year Return

47.9%

INE

48.1%

CA Renewable Energy

0.5%

CA Market

Return vs Industry: INE matched the Canadian Renewable Energy industry which returned 48.1% over the past year.

Return vs Market: INE exceeded the Canadian Market which returned 0.5% over the past year.


Shareholder returns

INEIndustryMarket
7 Day6.7%8.2%2.7%
30 Day3.7%12.0%12.3%
90 Day12.8%32.1%6.1%
1 Year53.5%47.9%54.1%48.1%4.2%0.5%
3 Year101.5%75.7%117.4%88.1%12.8%1.9%
5 Year196.5%135.6%227.0%154.9%49.7%26.8%

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

Valuation

Is Innergex Renewable Energy undervalued compared to its fair value and its price relative to the market?

4.82x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: INE (CA$25.33) is trading above our estimate of fair value (CA$16.21)

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 CA 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 (4.8x) compared to the CA Renewable Energy industry average (1.9x).


Next Steps

Future Growth

How is Innergex Renewable Energy forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?

98.3%

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 (1.7%).

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 (5.9% per year) is forecast to grow slower than the Canadian market (6.2% per year).

High Growth Revenue: INE's revenue (5.9% 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


Next Steps

Past Performance

How has Innergex Renewable Energy performed over the past 5 years?

-40.4%

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 40.4% 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 (84.8%).


Return on Equity

High ROE: INE has a negative Return on Equity (-7.97%), as it is currently unprofitable.


Next Steps

Financial Health

How is Innergex Renewable Energy's financial position?


Financial Position Analysis

Short Term Liabilities: INE's short term assets (CA$442.2M) do not cover its short term liabilities (CA$701.8M).

Long Term Liabilities: INE's short term assets (CA$442.2M) do not cover its long term liabilities (CA$5.3B).


Debt to Equity History and Analysis

Debt Level: INE's debt to equity ratio (413.8%) is considered high.

Reducing Debt: INE's debt to equity ratio has increased from 411.9% to 413.8% 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: Insufficient data to determine if INE has enough cash runway based on its current free cash flow.

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.


Next Steps

Dividend

What is Innergex Renewable Energy current dividend yield, its reliability and sustainability?

2.84%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: INE's dividend (2.84%) is higher than the bottom 25% of dividend payers in the Canadian market (1.62%).

High Dividend: INE's dividend (2.84%) is low compared to the top 25% of dividend payers in the Canadian market (5.26%).


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 (267.3% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

5.8yrs

Average management tenure


CEO

Michel Letellier (55 yo)

13.08yrs

Tenure

CA$1,541,124

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 ($USD1.19M) is below average for companies of similar size in the Canadian market ($USD3.00M).

Compensation vs Earnings: Michel's compensation has increased whilst the company is unprofitable.


Leadership Team

NamePositionTenureCompensationOwnership
Michel Letellier
President13.08yrsCA$1.54m0.53%
CA$ 23.6m
Jean-François Neault
Chief Financial Officer2yrsCA$692.83k0.0032%
CA$ 141.0k
Peter Grover
Senior Vice President of Operationsno dataCA$579.04k0.085%
CA$ 3.8m
Jean Trudel
Chief Investment & Development Officer5.83yrsCA$704.50k0.16%
CA$ 7.2m
Renaud De Batz de Trenquelléon
Senior Vice President of Latin America5.83yrsCA$551.43k0.095%
CA$ 4.2m
Karine Vachon
Senior Director – Communicationsno datano datano data
Yves Baribeault
VP of Legal Affairs & Secretary9.83yrsno data0.0074%
CA$ 326.7k
Alexandra Pepin
Vice President – Human Resources0.42yrno data0.00011%
CA$ 4.9k
Richard Blanchet
Senior Vice President of Hydro & Special Projects9.83yrsCA$352.87kno data

5.8yrs

Average Tenure

Experienced Management: INE's management team is seasoned and experienced (5.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Michel Letellier
President13.08yrsCA$1.54m0.53%
CA$ 23.6m
Monique Mercier
Independent Director5.08yrsCA$100.00k0.0046%
CA$ 201.6k
Ross Beaty
Independent Director2.75yrsCA$73.00k3.83%
CA$ 169.5m
Richard Gagnon
Independent Director3.5yrsCA$114.50k0.0021%
CA$ 92.4k
M. Daniel Lafrance
Independent Vice-Chairman of the Board0.83yrCA$125.50k0.026%
CA$ 1.2m
Ouma Sananikone
Independent Director1.75yrsCA$73.92kno data
Jean La Couture
Independent Chairman10.67yrsCA$182.50k0.029%
CA$ 1.3m
Dalton James McGuinty
Independent Director5.5yrsCA$85.50kno data
Nathalie Francisci
Independent Director3.5yrsCA$98.00kno data
Louis Veci
Non-Independent Director0.75yrno datano data
Pierre Brodeur
Independent Director0.50yrno datano data

3.5yrs

Average Tenure

63yo

Average Age

Experienced Board: INE's board of directors are considered experienced (3.5 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 25.2%.


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$4.421b
  • Shares outstanding: 174.54m
  • 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

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
3IXDB (Deutsche Boerse AG)YesCommon SharesDEEURMar 2010
INETSX (The Toronto Stock Exchange)YesCommon SharesCACADMar 2010
INGX.FOTCPK (Pink Sheets LLC)YesCommon SharesUSUSDMar 2010
INE.PRATSX (The Toronto Stock Exchange)CV PFD SER ACACADSep 2010

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, wind ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/11/28 23:56
End of Day Share Price2020/11/27 00:00
Earnings2020/09/30
Annual Earnings2019/12/31


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.