Boralex Inc. (TSE:BLX) Receives C$40.25 Consensus PT from Brokerages

Shares of Boralex Inc. (TSE:BLX) have received an average rating of “Buy” from the six brokerages that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is C$40.25.

Several equities research analysts recently weighed in on the company. CIBC reduced their target price on Boralex from C$42.00 to C$40.00 and set an “outperform” rating for the company in a report on Wednesday, January 8th. Cormark reduced their target price on Boralex from C$47.00 to C$35.00 in a report on Thursday, January 30th. Scotiabank reduced their target price on Boralex from C$42.00 to C$36.00 and set a “sector perform” rating for the company in a report on Thursday, January 30th. National Bankshares cut their price target on Boralex from C$46.00 to C$43.00 and set an “outperform” rating for the company in a report on Tuesday, February 11th. Finally, Raymond James cut their price target on Boralex from C$41.00 to C$39.00 in a report on Monday, March 3rd.

Boralex Stock Up 0.4 %

BLX opened at C$29.73 on Friday. The business has a 50 day moving average price of C$27.08 and a 200 day moving average price of C$30.44. Boralex has a twelve month low of C$24.40 and a twelve month high of C$36.68. The company has a debt-to-equity ratio of 233.60, a quick ratio of 1.54 and a current ratio of 0.86. The firm has a market cap of C$3.09 billion, a P/E ratio of 43.59, a price-to-earnings-growth ratio of 2.01 and a beta of 0.46.

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 given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend was Friday, February 28th. Boralex’s dividend payout ratio is presently 96.76%.

Insider Activity

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

Boralex Company Profile

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.