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

Boralex Inc. (TSE:BLX) has been given an average rating of “Buy” by the six brokerages that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is C$40.25.

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

Boralex Stock Performance

Shares of BLX stock opened at C$29.34 on Friday. The firm has a market cap of C$3.05 billion, a price-to-earnings ratio of 43.01, a P/E/G ratio of 2.01 and a beta of 0.46. The company has a debt-to-equity ratio of 233.60, a quick ratio of 1.54 and a current ratio of 0.86. Boralex has a 52 week low of C$24.40 and a 52 week high of C$36.68. The firm’s 50-day simple moving average is C$27.02 and its two-hundred day simple moving average is C$30.45.

Boralex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 17th were paid a dividend of $0.165 per share. The ex-dividend date was Friday, February 28th. This represents a $0.66 dividend on an annualized basis and a yield of 2.25%. Boralex’s dividend payout ratio is currently 96.76%.

Insider Buying and Selling at Boralex

In related news, Director Ricky Fontaine purchased 1,000 shares of Boralex stock in a transaction dated 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. Also, Director Patrick Decostre sold 8,671 shares of Boralex stock in a transaction that occurred 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. 0.16% of the stock is owned by company 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.