Analysts Set Boralex Inc. (TSE:BLX) Target Price at C$40.50

Shares of Boralex Inc. (TSE:BLX - Get Free Report) have been assigned an average rating of "Buy" from the seven research firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is C$40.50.

Several analysts have recently issued reports on BLX shares. CIBC decreased their price target on Boralex from C$42.00 to C$40.00 and set an "outperform" rating for the company in a research note on Wednesday, January 8th. National Bankshares decreased their target price on Boralex from C$46.00 to C$43.00 and set an "outperform" rating for the company in a research note on Tuesday, February 11th. BMO Capital Markets decreased their target price on Boralex from C$46.00 to C$45.00 in a research note on Friday, November 15th. Cormark decreased their target price on Boralex from C$47.00 to C$35.00 in a research note on Thursday, January 30th. Finally, Scotiabank decreased their target price on 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 Stock Up 2.0 %

Shares of BLX traded up C$0.53 during trading hours on Tuesday, hitting C$27.16. 406,643 shares of the company were exchanged, compared to its average volume of 336,664. The company has a market cap of C$2.83 billion, a PE ratio of 39.82, a PEG ratio of 2.01 and a beta of 0.46. The firm's 50 day moving average is C$27.06 and its 200-day moving average is C$31.07. Boralex has a 52 week low of C$24.40 and a 52 week 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.

Boralex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 17th will be paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 2.43%. The ex-dividend date is Friday, February 28th. Boralex's payout ratio is presently 96.76%.

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.