Innergex to Redeem 4.75% Convertible Debentures

The latest update is out from Innergex Renewable Energy ( (TSE:INE) ).

Innergex Renewable Energy Inc. announced its plan to fully redeem its 4.75% convertible unsecured subordinated debentures due June 30, 2025. The redemption will be executed on the same date, with the company drawing approximately $151.5 million from its revolving credit facility to fund the redemption. This move will result in the debentures being delisted from the Toronto Stock Exchange, potentially impacting the company’s financial structure and market positioning.

The most recent analyst rating on (TSE:INE) stock is a Hold with a C$11.00 price target. To see the full list of analyst forecasts on Innergex Renewable Energy stock, see the TSE:INE Stock Forecast page.

Spark’s Take on TSE:INE Stock

According to Spark, TipRanks’ AI Analyst, TSE:INE is a Neutral.

Innergex Renewable Energy’s stock is positively impacted by recent corporate events, including a major acquisition, which suggests a strong future outlook. Technical indicators show bullish momentum, yet high P/E ratio suggests potential overvaluation, balancing the overall score.

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. With operations in Canada, the United States, France, and Chile, Innergex manages a large portfolio of high-quality assets, including 91 operating facilities with a net installed capacity of 3,737 MW. The company is committed to generating sustainable cash flows and providing an attractive risk-adjusted return on invested capital.

Average Trading Volume: 843,948

Technical Sentiment Signal: Buy

Current Market Cap: C$2.79B

See more insights into INE stock on TipRanks’ Stock Analysis page.