Boralex Inc. to Issue Quarterly Dividend of $0.17 (TSE:BLX)

Boralex Inc. (TSE:BLX) announced a quarterly dividend on Wednesday, August 14th, Zacks reports. Investors of record on Friday, August 30th will be paid a dividend of 0.165 per share on Tuesday, September 17th. This represents a $0.66 annualized dividend and a yield of 1.98%. The ex-dividend date is Friday, August 30th.

Boralex Trading Up 1.4 %

Shares of BLX opened at C$33.33 on Wednesday. The firm has a market cap of C$3.43 billion, a P/E ratio of 35.84, a price-to-earnings-growth ratio of 0.94 and a beta of 0.41. The company has a debt-to-equity ratio of 174.81, a current ratio of 0.95 and a quick ratio of 1.54. Boralex has a 1 year low of C$25.40 and a 1 year high of C$36.68. The company has a 50 day simple moving average of C$33.75 and a two-hundred day simple moving average of C$31.33.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on BLX shares. CIBC lifted their price target on Boralex from C$41.00 to C$42.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. BMO Capital Markets increased their price target on Boralex from C$37.00 to C$39.00 in a report on Thursday, August 15th. Desjardins raised their price target on Boralex from C$44.00 to C$46.00 and gave the stock a “top pick” rating in a research note on Friday, June 21st. Scotiabank lifted their target price on Boralex from C$38.00 to C$42.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 12th. Finally, Cibc World Mkts raised shares of Boralex to a “strong-buy” rating in a research report on Monday, July 22nd. One investment analyst has rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Boralex currently has an average rating of “Buy” and a consensus price target of C$42.44.

Boralex Company Profile

Boralex Inc, together with its subsidiaries, engages in the development, construction, and operation of renewable energy power facilities in Canada, France, the United States, and the United Kingdom. It generates electricity from wind, solar, and hydroelectric resources. As of December 31, 2023, the company operates 100 wind farms; 12 solar energy facilities; 15 hydroelectric power stations; and 2 storage units with an installed capacity of 1,819 megawatts (MW) in North America and 1,259 MW in Europe.