Boralex Inc. (TSE:BLX) Receives C$40.25 Average Target Price from Analysts

Shares of Boralex Inc. (TSE:BLX) have earned an average rating of “Buy” from the five brokerages that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is C$40.25.

BLX has been the topic of several research reports. National Bankshares reduced their price target on shares of Boralex from C$46.00 to C$43.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 11th. Raymond James raised shares of Boralex to a “moderate buy” rating in a research note on Thursday, May 15th. Cormark dropped their price objective on shares of Boralex from C$47.00 to C$35.00 in a research note on Thursday, January 30th. Finally, Scotiabank dropped their price objective on shares of Boralex from C$42.00 to C$36.00 and set a “sector perform” rating for the company in a research note on Thursday, January 30th.

Boralex Trading Up 3.9%

Boralex stock opened at C$30.92 on Friday. The stock has a market cap of C$3.22 billion, a P/E ratio of 45.33, a PEG ratio of 2.01 and a beta of 0.46. The company has a debt-to-equity ratio of 233.60, a current ratio of 0.86 and a quick ratio of 1.54. Boralex has a 1 year low of C$24.40 and a 1 year high of C$36.68. The firm’s 50 day moving average price is C$29.46 and its 200-day moving average price is C$28.88.

Boralex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 17th were paid a dividend of $0.165 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.13%. Boralex’s payout ratio is 96.76%.

Insider Activity at Boralex

In other Boralex news, Director Patrick Decostre sold 8,671 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of C$30.00, for a total value of C$260,130.00. Also, Director Ricky Fontaine bought 1,000 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was bought at an average cost of C$29.10 per share, with a total value of C$29,100.00. 0.16% of the stock is owned by corporate insiders.

About Boralex

Boralex Inc is an electric utility company involved in the development, construction, and operation of renewable energy power facilities. The company controls a portfolio of electricity producing plants that utilize wind, hydroelectric, thermal, and solar fuel sources. Most of Boralex’s plants rely on wind power, while a significant number also employ hydroelectric power.