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Innergex Renewable Energy (INE-T) has attracted attention from experts who express caution regarding its prospects in the current interest rate environment. One analyst highlights that rising rates could pose challenges for bond proxies, such as utilities and REITs, suggesting that this could negatively impact companies like Innergex. While there is a hint of potential upside for the renewable energy sector, the overall sentiment leans towards a trading viewpoint rather than a long-term hold. Investors may want to weigh the potential risks associated with rising interest rates against the appeal of renewable energy investments. Thus, the current market scenario may require careful consideration before making investment decisions in this sector.
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.
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0 stock analysts on Stockchase covered Innergex Renewable Energy In the last year. It is a trending stock that is worth watching.
On 2025-04-24, 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.