Boralex Inc. (TSE:BLX) to Issue Quarterly Dividend of $0.17

Boralex Inc. (TSE:BLX) announced a quarterly dividend on Friday, February 28th, TickerTech Dividends reports. Shareholders of record on Monday, March 17th will be paid a dividend of 0.165 per share on Monday, March 17th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend is Friday, February 28th.

Boralex Stock Performance

Shares of TSE BLX traded up C$0.77 during midday trading on Wednesday, reaching C$30.01. 155,430 shares of the company traded hands, compared to its average volume of 345,192. Boralex has a 52 week low of C$24.40 and a 52 week high of C$36.68. The company has a debt-to-equity ratio of 233.60, a current ratio of 0.86 and a quick ratio of 1.54. The company has a market cap of C$3.12 billion, a price-to-earnings ratio of 44.00, a PEG ratio of 2.01 and a beta of 0.46. The stock has a 50-day moving average price of C$26.97 and a 200 day moving average price of C$30.93.

Analyst Upgrades and Downgrades

BLX has been the topic of a number of research reports. CIBC dropped 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 research note on Wednesday, January 8th. Scotiabank decreased their price target on shares of Boralex from C$42.00 to C$36.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 30th. BMO Capital Markets dropped their price objective on Boralex from C$46.00 to C$45.00 in a report on Friday, November 15th. National Bankshares decreased their price target 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. Finally, Cormark cut their price target on Boralex from C$47.00 to C$35.00 in a report on Thursday, January 30th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of C$40.50.

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.