Boralex (TSE:BLX) Given New C$39.00 Price Target at Raymond James

Boralex (TSE:BLX - Free Report) had its target price lowered by Raymond James from C$41.00 to C$39.00 in a research note released on Monday morning,BayStreet.CA reports.

BLX has been the subject of several other reports. 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 decreased their target price on shares of Boralex from C$46.00 to C$45.00 in a research note on Friday, November 15th. National Bankshares dropped their price target on Boralex from C$46.00 to C$43.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 11th. Scotiabank cut their price objective 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. Finally, CIBC lowered their target price on Boralex from C$42.00 to C$40.00 and set an "outperform" rating on the stock in a report on Wednesday, January 8th. One analyst has rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of C$40.25.

Boralex Stock Up 0.4 %

TSE BLX traded up C$0.12 during mid-day trading on Monday, reaching C$29.05. The stock had a trading volume of 228,690 shares, compared to its average volume of 367,293. The stock has a market cap of C$3.02 billion, a PE ratio of 42.59, a price-to-earnings-growth ratio of 2.01 and a beta of 0.46. Boralex has a 1 year low of C$24.40 and a 1 year high of C$36.68. The company has a debt-to-equity ratio of 233.60, a current ratio of 0.86 and a quick ratio of 1.54. The company has a fifty day moving average price of C$26.99 and a 200 day moving average price of C$30.76.

Remove Ads

Boralex Announces Dividend

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