INE.TO - Stocktrades Canada

Hello, would like your thought on this one would it be a good investment for growth/divident in a tfsa or rrsp account. I stumble on a article from last year that Hydro-québec got a partership wit them to expend. i’m from Québec and know that Hydro is a solid compagnie not going anywhere soon as it is gouvernement own.

Thank you!

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Asked on March 10, 2021 7:51 am

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Hi Bruno,

I recently wrote an article on INE - you can check it out here: https://www.stocktrades.ca/is-innergex-renewables-tseine-the-renewable-energy-stock-to-buy/

Company has solid growth prospects, but the dividend is actually in 'suspect' shape. While it is an Aristocrat, payout levels are stretched. In fact, the company was expected to raise dividends last month (as it historically has) and yet the company chose to keep the dividend steady. I think this was the smart move. Expansion is leading to big out flows of cash, and something had to give - looks like dividend growth was sacrificed, at least temporarily.

Strong renewable company though. Plenty of growth prospects, just don't bank on the safety of that dividend (or a growing dividend).

Mat

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Posted by Mathieu Litalien

Answered on March 10, 2021 11:22 am

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