Innergex Renewable Energy ( (TSE:INE) ) has shared an update.
Innergex Renewable Energy announced that its shareholders have approved a statutory plan of arrangement for CDPQ to acquire all outstanding common and preferred shares, with the transaction expected to complete by Q4 2025, pending regulatory approvals. Additionally, all nominees for the board of directors were elected, and the company plans to release its financial results for Q1 2025 on May 7, 2025, without a conference call due to the acquisition.
Spark’s Take on TSE:INE Stock
According to Spark, TipRanks’ AI Analyst, TSE:INE is a Neutral.
Innergex Renewable Energy demonstrates strong technical momentum and positive strategic developments, particularly with the CDPQ acquisition. However, financial challenges such as high leverage and valuation concerns weigh on the overall score. The positive earnings call and corporate events provide optimism, but consistent profitability and financial stability are crucial for improvement.
To see Spark’s full report on TSE:INE stock, click here.
More about Innergex Renewable Energy
Innergex Renewable Energy Inc. is an independent renewable power producer that develops, acquires, owns, and operates hydroelectric facilities, wind farms, solar farms, and energy storage facilities. The company operates in Canada, the United States, France, and Chile, focusing on generating power from renewable sources to promote healthier communities and shared prosperity.
YTD Price Performance: 69.88%
Average Trading Volume: 1,367,520
Technical Sentiment Signal: Sell
Current Market Cap: C$2.76B
See more data about INE stock on TipRanks’ Stock Analysis page.