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

Boralex Inc. (TSE:BLX - Get Free Report) has earned a consensus recommendation of "Buy" from the six ratings firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is C$40.25.

BLX has been the subject of several research reports. National Bankshares lowered their price objective on shares of Boralex from C$46.00 to C$43.00 and set an "outperform" rating for the company in a research report on Tuesday, February 11th. Scotiabank dropped their price objective on shares of Boralex from C$42.00 to C$36.00 and set a "sector perform" rating for the company in a research report on Thursday, January 30th. CIBC decreased their price objective on Boralex from C$42.00 to C$40.00 and set an "outperform" rating on the stock in a research report on Wednesday, January 8th. Raymond James dropped their target price on Boralex from C$41.00 to C$39.00 in a research report on Monday, March 3rd. Finally, Cormark decreased their price target on Boralex from C$47.00 to C$35.00 in a report on Thursday, January 30th.

Boralex Price Performance

Shares of BLX stock traded up C$0.08 during trading hours on Wednesday, hitting C$28.45. 268,901 shares of the company's stock were exchanged, compared to its average volume of 372,027. The stock's 50-day moving average is C$27.94 and its 200-day moving average is C$29.82. The company has a debt-to-equity ratio of 233.60, a current ratio of 0.86 and a quick ratio of 1.54. Boralex has a 52 week low of C$24.40 and a 52 week high of C$36.68. The stock has a market cap of C$2.96 billion, a price-to-earnings ratio of 41.71, a price-to-earnings-growth ratio of 2.01 and a beta of 0.46.

Boralex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 17th were issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date was Friday, February 28th. Boralex's dividend payout ratio (DPR) is currently 96.76%.

Insider Activity at Boralex

In related 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 bought 1,000 shares of Boralex stock in a transaction on Thursday, March 6th. The shares were acquired at an average price of C$29.10 per share, for a total transaction of C$29,100.00. 0.16% of the stock is currently owned by corporate 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.