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Innergex Renewable Energy Inc. (INGXF)
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How low can we go in renewables before a rebound this was at 32 dollars a year ago
Why is Innergex's long-term debt so high (~$4bn), and are they paying it down? The payout ratio is ~121% of FCF! So either they're going to have to cut dividends, or they will have to borrow money to pay the dividend.
Since interest rates are likely to rise 'soon' (?some time in 2022? Who knows?), this will mean more of the Revenue having to go towards a growing debt.
I'd rather they reduced the debt, even if it means cutting my dividend, than going into a potential recession with a growing debt.
What do others think?
almost 4% in 2 hours... any news that im missing?
Does anybody here know much about the Renewable Utilities industry & sector, and can explain the last year?
I did a Yahoo Screener on Mid Cap US & Canadian companies in this sector. ALL of the ones the same size as INE (by Volume traded) have had almost the exact same year as INE - a massive climb in value from the end of last year to the Q1 2021. Then they all took a long slow dive to now. They are all at about half or two-thirds of the value they were at the start of the year (except one called Clearway Energy, which I know nothing about). AQN, RNW, BEPC, AY, INE, CWEN, NPI, ORA, NEP and ORA.
So, to me it looks like there's so industry-wide pattern happening. I don't know enough about the renewable energy markets to guess what's happening. Since the industry is so diverse (location-wise and energy-source), I can't see a macro effect that they are ALL experiencing, unless it's a negative effect from an alternative source (e.g., if oil and gas became so cheap this year that people would rather pay for that than pay for renewable). I may be wrong, but I doubt that's the problem.
So what is causing this systemic drop in price for all of the major Clean Energy companies for 2021?
Yahoo Finance Insights
INE.TO reached a 52 Week low at 17.21
this stock barely flinched friday, this will go all the way up from now till March, enjoy
what a mistake to not sell at 19.15 that is my price
17.60 dip, climbing back it seem
Revenues up 13% at $184.6 million in Q3 2021 compared with Q3 2020.
load up, winter is coming!
Never any gains
what's going on today?
Is anybody else concerned about the high level of DEBT that INE carries?
This is my only real concern about the company. What do others think? I know its a utility and it's business is pretty steady and reliable, but they seem to be constantly buying more assets. Are they biting off more than they can chew? When will they start to pay down this debt?
If they cannot deploy that cash soon at attractive returns it looks like they are going to have to eat into it to sustain the dividend... 120%+ payout is extreme.
Also, no real growth. FCF is negative 5% on the year but the stock has rallied to all time highs... That's all multiple expansion, not actual business growth. I'd be careful here.
Innergex Renewable Power preferreds pay between 6.18 and 6.68%. Pick one of the preferreds and collect the dividend. Low risk good dividend
I paid $8.99/sh for this in 2010 . I think the dividend was .60, for a 6.67% yield. Something like that. I still hold all of it. Look at the yield on this thing now ... 2.57% .... unreal. This was supposed to be the slow grow (even basically no grow ) steady freddy. Algonquin, Boralex and NPI were the ones with the deals and pipelines.
This stock is owned at 20% By Hydro-Quebec. The Quebec government announced that they will ban new gas/diesel cars from the market by 2035. This stock is good for the long run
Bought this stock this morning after comparing with Boralex. I like that the dividend is higher and the price is cheaper. They have a good number of potential projects lined up and a good production level already. I expected continued expansion and a return to profitability in Q3. Not too mention expertise in wind and solar is in itself a valuable commodity as governments talk about transition to a greener economy worldwide.
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