The Globe and Mail reports in its Tuesday, Feb. 13, edition that RBC Capital analyst Nelson Ng has reaffirmed his "sector perform" recommendation fort Innergex Renewable Energy. The Globe's David Leeder writes that Mr. Ng gave his share target a $2 trim to $11. Analysts on average target the shares at $13.72. Mr. Ng says in a note: "We believe the time is right for Innergex to reset its capital allocation strategy and significantly cut its dividend when it reports Q4/23 results on February 21, which may already be mostly priced into the shares. The payout ratio has been at or above 100 per cent (including prospective project expense) for the past five years, and we believe a much lower payout is appropriate for a growth company. We are reducing our price target as we believe there could be a period of shareholder transition." The Globe reported on May 12 that Mr. Ng was keeping his "outperform" call on Innergex Renewable intact. It was then worth $13.34. The Globe reported on July 5 that iA Capital analyst Naji Baydoun continued to rate Innergex Renewable "strong buy." The shares could then be had for $12.98. The Globe reported on Jan. 30 that Desjardins rated Innergex "buy." It was then worth $9.06.