Boralex (TSE:BLX) Stock Price Passes Above Two Hundred Day Moving Average - What's Next?

Boralex Inc. (TSE:BLX - Get Free Report) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$29.38 and traded as high as C$31.68. Boralex shares last traded at C$31.19, with a volume of 179,479 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Raymond James decreased their target price on Boralex from C$41.00 to C$39.00 in a research report on Monday, March 3rd. Cormark decreased their price objective on Boralex from C$47.00 to C$35.00 in a report on Thursday, January 30th. Scotiabank cut 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. National Bankshares decreased 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 research note on Tuesday, February 11th. Finally, CIBC lowered 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. One investment analyst has rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of C$40.25.

Boralex Stock Up 0.6 %

The stock has a market capitalization of C$3.17 billion, a price-to-earnings ratio of 44.66, a price-to-earnings-growth ratio of 2.01 and a beta of 0.46. The firm has a 50 day simple moving average of C$29.11 and a 200-day simple moving average of C$29.22. 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 17th were given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend was Friday, February 28th. Boralex's dividend payout ratio (DPR) is currently 96.76%.

Insider Activity at Boralex

In other 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 value of C$260,130.00. Also, Director Ricky Fontaine purchased 1,000 shares of Boralex stock in a transaction that occurred on Thursday, March 6th. The shares were bought 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 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.