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Innergex Renewable Energy (INE-T) is currently viewed cautiously by experts, mainly due to anticipated rising interest rates in the upcoming year. This increase is expected to affect bond proxies such as utilities and REITs, leading to some potential downward pressure on their performance. Although there might be a slight potential for upside, the overall sentiment seems to be more aligned with a trading perspective rather than a long-term investment. Experts are suggesting that investors should be on the lookout for short-term gains while being wary of the broader market implications of rising rates. As a renewable energy player, Innergex must navigate these challenges to maintain its growth and profitability in a fluctuating interest rate environment.
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.
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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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, there was no coverage of Innergex Renewable Energy published on Stockchase.
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.
0 stock analysts on Stockchase covered Innergex Renewable Energy In the last year. It is a trending stock that is worth watching.
On 2025-04-03, Innergex Renewable Energy (INE-T) stock closed at a price of $13.52.
This is how he'd play the renewable energy trade. Thinks rates will go higher next year, which makes him cautious. If that's the case for rates, a lot of the bond proxies like utilities and REITs are going to come under pressure. A bit more upside potential, but for a trade.