Boralex (TSE:BLX) Price Target Cut to C$40.00

Boralex (TSE:BLXGet Rating) had its target price decreased by Royal Bank of Canada from C$42.00 to C$40.00 in a research note released on Monday morning, BayStreet.CA reports. Royal Bank of Canada currently has a sector perform rating on the stock.

BLX has been the topic of several other reports. Credit Suisse Group decreased their price target on shares of Boralex to C$43.00 and set a neutral rating on the stock in a research note on Tuesday, October 25th. TD Securities reduced their target price on shares of Boralex from C$53.00 to C$50.00 and set a buy rating on the stock in a research note on Thursday, November 10th. National Bankshares reduced their target price on shares of Boralex from C$48.00 to C$47.00 and set an outperform rating on the stock in a research note on Monday. CSFB reduced their target price on shares of Boralex from C$43.00 to C$36.00 in a research note on Monday. Finally, CIBC reduced their target price on shares of Boralex from C$46.00 to C$45.00 and set an outperform rating on the stock in a research note on Thursday, November 10th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of C$44.58.

Boralex Stock Performance

TSE:BLX opened at C$37.78 on Monday. The company’s 50-day moving average price is C$40.14 and its 200-day moving average price is C$42.71. The company has a current ratio of 1.64, a quick ratio of 1.54 and a debt-to-equity ratio of 171.03. The company has a market cap of C$3.88 billion and a P/E ratio of 114.48. Boralex has a twelve month low of C$30.04 and a twelve month high of C$51.55.

Boralex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, September 16th were issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 1.75%. The ex-dividend date was Tuesday, August 30th. Boralex’s dividend payout ratio (DPR) is presently 200.00%.

Insider Activity

In related news, Director Dany St-Pierre bought 1,530 shares of the stock in a transaction dated Wednesday, September 7th. The stock was acquired at an average price of C$46.21 per share, for a total transaction of C$70,695.96. Following the acquisition, the director now owns 1,530 shares in the company, valued at approximately C$70,695.96.

About Boralex

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Boralex Inc, together with its subsidiaries, engages in the development, construction, and operation of renewable energy power facilities primarily in Canada, France, and the United States. As of December 31, 2021, the company had interests in 90 wind power stations with an installed capacity of 2,032 megawatts (MW); 16 hydroelectric power stations with a capacity of 181 MW; 12 solar power stations with an installed capacity of 244 MW; and one thermal power station with an installed capacity of 35 MW.

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