Boralex Inc. (TSE:BLX) Given Average Recommendation of “Buy” by Brokerages

Shares of Boralex Inc. (TSE:BLX) have been assigned a consensus recommendation of “Buy” from the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is C$40.25.

A number of brokerages have recently issued reports on BLX. National Bankshares reduced 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 note on Tuesday, February 11th. CIBC cut 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. Raymond James lowered their price objective on Boralex from C$41.00 to C$39.00 in a research report on Monday, March 3rd. 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 report on Thursday, January 30th. Finally, Cormark lowered their price target on Boralex from C$47.00 to C$35.00 in a report on Thursday, January 30th.

Insider Activity at Boralex

In related news, Director Patrick Decostre sold 8,671 shares of the company’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. Also, Director Ricky Fontaine acquired 1,000 shares of Boralex stock in a transaction that occurred on Thursday, March 6th. The stock was purchased at an average cost 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 Stock Down 0.3 %

BLX stock opened at C$26.07 on Wednesday. The business’s 50-day moving average price is C$27.69 and its 200-day moving average price is C$29.97. The stock has a market cap of C$2.71 billion, a P/E ratio of 38.22, a PEG ratio of 2.01 and a beta of 0.46. The company has a quick ratio of 1.54, a current ratio of 0.86 and a debt-to-equity ratio of 233.60. Boralex has a twelve month low of C$24.40 and a twelve month high of C$36.68.

Boralex Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 17th were given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend was Friday, February 28th. Boralex’s dividend payout ratio is currently 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.