INNERGEX RENEWABLE ENERGY $10.16 (Toronto symbol INE; Shares outstanding: 93.7 million; Market cap: $952.0 million; TSINetwork Rating: Extra Risk; Dividend yield 5.7%; www.innergex.com) operates 22 hydroelectric facilities, five wind farms and one solar-power plant in Quebec, Ontario, B.C. and Idaho. Innergex gets 55% of its power from hydroelectric plants. Wind farms supply 39% and solar generates 6%.
Like Algonquin, Innergex makes sure it has firm long-term power-purchase contracts in place before it makes acquisitions or starts building new facilities.
Innergex aims to keep increasing its hydroelectric and wind-power capacity; right now, it is developing or building eight projects.
The company’s earnings per share fell to $0.03 in the three months ended September 30, 2012, from $0.10 a year earlier. But that was mainly because power generation hit record levels a year earlier on exceptional rainfall and wind conditions.
Innergex trades at 10.9 times its forecast 2013 cash flow of $0.93 a share. It yields 5.7%.
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Privacy Policy and Terms of Use
The Successful Investor Inc. and its affiliate Successful Investor Wealth Management (referred to hereafter as TSI Network) know that you care how information about you is used and shared, and we appreciate your trust that we will do so carefully and sensibly. This notice describes our privacy policy. By visiting websites owned by or associated with TSI Network, you are accepting the practices described in this Privacy Policy.
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We do not collect or disclose personal information, except when it is provided to us voluntarily by the site/store visitor with their consent.
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What personal information do we collect?
The information we receive from customers helps us personalize and continually improve your online experience at TSI Network. TSI Network may collect personal information online for all legal purposes, which include, but are not limited to:
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Changes to this Policy
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