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Most Anticipated Earnings: SLF-T, REAL-T and more Canadian Companies Reporting Earnings this Week (Nov 13-17)Oil sinks in choppy sessionWeak commodity prices drag down TSXThis summary was created by AI, based on 2 opinions in the last 12 months.
The company INE-T, Innergex Renewable Energy, has experienced a significant drop in its stock price, as a result of the overvaluation of green energy stocks, compounded by rising interest rates and operating weakness. Despite this, there is potential for recovery, and the company has demonstrated strong top-line growth and a decent amount of free cash flows. However, it is highly leveraged and has yet to achieve profitability. Experts recommend caution and suggest exploring other income opportunities with less risk.
INE has been closely tracking to the broader 'clean energy' industry (PBW as a proxy). The PBW ETF peaked in early 2021 as 'green' stocks flourished, but the ETF and industry has since made a new 52-week low. The stock is a $2.1B company that has demonstrated strong top-line growth and a decent amount of free cash flows. It pays a solid yield of 7%, but is highly leveraged, with a net debt of $5.9B. It trades at an OK valuation of 2.0X forward sales and 1.9X book. A lot of high growth, unprofitable names have been impacted recently with renewed recession fears as bond yields spike and inflation re-accelerated in recent readings. We would like to see the company achieve profitability, and we feel that this could help support its share price, particularly as it grows its top-line at a strong rate.
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INE vs. RNW RNW depends on drop-down from the parent for growth. Whereas INE is an independent power producer. At current valuations, he prefers RNW. Pretty good visibility over the next few years. INE is more expensive and has good prospects, but its valuation doesn't have as much upside.
It has been on fire this year (up 30%). Hydro Quebec is buying 10% of the stock. He would stay on the sidelines since it has rallied just based on a strategic alliance with Hydro Quebec.
Great play, 100% renewable energy. Likes it. Ability to grow as well as generate a nice yield. Few places to get this nice of a dividend without taking on carbon risk. Bit more of a growth play. Yield of 5%.
Innergex Renewable Energy is a Canadian stock, trading under the symbol INE-T on the Toronto Stock Exchange (INE-CT). It is usually referred to as TSX:INE or INE-T
In the last year, 1 stock analyst published opinions about INE-T. 0 analysts recommended to BUY the stock. 1 analyst recommended to SELL the stock. The latest stock analyst recommendation is . Read the latest stock experts' ratings for Innergex Renewable Energy.
Innergex Renewable Energy was recommended as a Top Pick by on . Read the latest stock experts ratings for Innergex Renewable Energy.
Earnings reports or recent company news can cause the stock price to drop. Read stock experts’ recommendations for help on deciding if you should buy, sell or hold the stock.
1 stock analyst on Stockchase covered Innergex Renewable Energy In the last year. It is a trending stock that is worth watching.
On 2024-03-28, Innergex Renewable Energy (INE-T) stock closed at a price of $7.99.
Tough, down about half. Lots of money was chasing few investment outlets, and that bid up the multiples of all green energy. Valuation changed dramatically, further compounded by rising interest rates. Operating weakness. Steer clear.
If you own it, hard to exit at a 50% loss. You need to do something at some point. More recovery potential than others. Other income opportunities out there with less risk.