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

Shares of Boralex Inc. (TSE:BLX - Get Free Report) have earned an average rating of "Buy" from the six ratings firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is C$40.25.

Several analysts recently weighed in on BLX shares. CIBC cut their price target on shares of Boralex from C$42.00 to C$40.00 and set an "outperform" rating on the stock in a report on Wednesday, January 8th. Raymond James cut their price target on shares of Boralex from C$41.00 to C$39.00 in a report on Monday, March 3rd. National Bankshares cut 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 report on Tuesday, February 11th. Scotiabank cut their price target on shares of 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. Finally, Cormark cut their price target on shares of Boralex from C$47.00 to C$35.00 in a report on Thursday, January 30th.

Boralex Trading Up 0.9 %

Shares of Boralex stock traded up C$0.26 on Friday, hitting C$29.60. The stock had a trading volume of 256,655 shares, compared to its average volume of 351,947. The company has a quick ratio of 1.54, a current ratio of 0.86 and a debt-to-equity ratio of 233.60. Boralex has a one year low of C$24.40 and a one year high of C$36.68. The stock has a market cap of C$3.08 billion, a price-to-earnings ratio of 43.40, a PEG ratio of 2.01 and a beta of 0.46. The stock's 50-day simple moving average is C$27.02 and its two-hundred day simple moving average is C$30.45.

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Boralex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 17th were given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend was Friday, February 28th. Boralex's dividend payout ratio is currently 96.76%.

Insider Buying and Selling 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 transaction of C$260,130.00. Also, Director Ricky Fontaine purchased 1,000 shares of the stock in a transaction dated 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. Insiders own 0.16% of the company's stock.

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.