Boralex Inc. (TSE:BLX) Director Ricky Fontaine Acquires 1,000 Shares

Boralex Inc. (TSE:BLX - Get Free Report) Director Ricky Fontaine acquired 1,000 shares of the stock in a transaction on Thursday, March 6th. The stock was acquired at an average cost of C$29.10 per share, for a total transaction of C$29,100.00.

Boralex Price Performance

Shares of BLX stock traded down C$0.17 during trading hours on Tuesday, hitting C$29.06. The company's stock had a trading volume of 175,667 shares, compared to its average volume of 361,336. The company has a current ratio of 0.86, a quick ratio of 1.54 and a debt-to-equity ratio of 233.60. The business has a fifty day moving average of C$27.01 and a 200-day moving average of C$30.64. Boralex Inc. has a twelve month low of C$24.40 and a twelve month high of C$36.68. The stock has a market cap of C$3.02 billion, a price-to-earnings ratio of 42.60, a P/E/G ratio of 2.01 and a beta of 0.46.

Boralex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 17th will be given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 2.27%. The ex-dividend date is Friday, February 28th. Boralex's payout ratio is 96.76%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented 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 decreased their price objective on shares of Boralex from C$47.00 to C$35.00 in a report on Thursday, January 30th. BMO Capital Markets lowered their target price on shares of Boralex from C$46.00 to C$45.00 in a research report on Friday, November 15th. Raymond James reduced their price target on shares of Boralex from C$41.00 to C$39.00 in a research report on Monday, March 3rd. Finally, Scotiabank lowered their price target on Boralex from C$42.00 to C$36.00 and set a "sector perform" rating on the stock in a report on Thursday, January 30th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Boralex currently has a consensus rating of "Buy" and a consensus price target of C$40.25.

Remove Ads

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.