Analysts Set Boralex Inc. (TSE:BLX) Target Price at C$40.25

Boralex Inc. (TSE:BLX) has been assigned an average rating of “Buy” from the six ratings firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is C$40.25.

A number of equities research analysts recently weighed in on BLX shares. Scotiabank cut their price objective 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. Cormark lowered their target price on Boralex from C$47.00 to C$35.00 in a report on Thursday, January 30th. CIBC lowered their target price on Boralex from C$42.00 to C$40.00 and set an “outperform” rating on the stock in a report on Wednesday, January 8th. Raymond James lowered their target price on Boralex from C$41.00 to C$39.00 in a report on Monday, March 3rd. Finally, National Bankshares lowered their target price on Boralex from C$46.00 to C$43.00 and set an “outperform” rating on the stock in a report on Tuesday, February 11th.

Boralex Price Performance

Shares of TSE BLX opened at C$29.73 on Friday. Boralex has a fifty-two week low of C$24.40 and a fifty-two week high of C$36.68. The firm’s 50-day simple moving average is C$27.08 and its 200 day simple moving average is C$30.44. The company has a quick ratio of 1.54, a current ratio of 0.86 and a debt-to-equity ratio of 233.60. The stock has a market cap of C$3.09 billion, a P/E ratio of 43.59, a P/E/G 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. Investors of record on Monday, March 17th were paid a $0.165 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.66 dividend on an annualized basis and a yield of 2.22%. Boralex’s dividend payout ratio is currently 96.76%.

Insider Buying and Selling

In other Boralex news, Director Ricky Fontaine bought 1,000 shares of the stock in a transaction on Thursday, March 6th. The shares were bought at an average price of C$29.10 per share, with a total value of C$29,100.00. Also, Director Patrick Decostre sold 8,671 shares of Boralex stock in a transaction dated Monday, March 10th. The shares were sold at an average price of C$30.00, for a total value of C$260,130.00. 0.16% of the stock is currently owned by company insiders.

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.