Boralex (TSE:BLX) Shares Cross Above 200 Day Moving Average - Should You Sell?

Boralex Inc. (TSE:BLX - Get Free Report) shares passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$29.09 and traded as high as C$31.79. Boralex shares last traded at C$31.39, with a volume of 283,700 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts have weighed in on BLX shares. Cormark decreased their price target on shares of Boralex from C$47.00 to C$35.00 in a report on Thursday, January 30th. National Bankshares cut their price objective 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 dropped their target price 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. Finally, Raymond James dropped their target price on shares of Boralex from C$41.00 to C$39.00 in a research report on Monday, March 3rd. One analyst has rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of C$40.25.

Boralex Stock Down 2.7%

The business's 50 day moving average is C$29.39 and its 200-day moving average is C$29.01. The company has a debt-to-equity ratio of 233.60, a quick ratio of 1.54 and a current ratio of 0.86. The firm has a market capitalization of C$3.10 billion, a price-to-earnings ratio of 43.62, a price-to-earnings-growth ratio of 2.01 and a beta of 0.46.

Boralex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 17th were given a $0.165 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.66 annualized dividend and a yield of 2.22%. Boralex's dividend payout ratio is 96.76%.

Insiders Place Their Bets

In other news, Director Ricky Fontaine purchased 1,000 shares of Boralex stock in a transaction on Thursday, March 6th. The shares were purchased at an average cost of C$29.10 per share, for a total transaction of C$29,100.00. Also, Director Patrick Decostre sold 8,671 shares of the business's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of C$30.00, for a total transaction of C$260,130.00. Company 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.