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

Shares of Boralex Inc. (TSE:BLXGet Free Report) have received an average rating of “Buy” from the six ratings firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is C$40.25.

Several equities analysts have weighed in on BLX shares. Scotiabank lowered 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 report on Thursday, January 30th. 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 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 report on Monday, March 3rd. CIBC lowered 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 report on Wednesday, January 8th. Finally, Cormark lowered their price target on shares of Boralex from C$47.00 to C$35.00 in a report on Thursday, January 30th.

Check Out Our Latest Stock Analysis on BLX

Boralex Stock Performance

BLX opened at C$29.34 on Friday. The company has a current ratio of 0.86, a quick ratio of 1.54 and a debt-to-equity ratio of 233.60. Boralex has a 12-month low of C$24.40 and a 12-month high of C$36.68. The company has a market cap of C$3.05 billion, a price-to-earnings ratio of 43.01, a PEG ratio of 2.01 and a beta of 0.46. The company’s 50 day moving average is C$27.02 and its 200 day moving average is C$30.45.

Boralex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 17th were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend was Friday, February 28th. Boralex’s dividend payout ratio (DPR) is presently 96.76%.

Insider Transactions at Boralex

In related news, Director Patrick Decostre sold 8,671 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of C$30.00, for a total value of C$260,130.00. Also, Director Ricky Fontaine purchased 1,000 shares of Boralex stock in a transaction that occurred on Thursday, March 6th. The stock was acquired at an average price of C$29.10 per share, for a total transaction of C$29,100.00. Insiders own 0.16% of the company’s stock.

Boralex Company Profile

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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.

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Analyst Recommendations for Boralex (TSE:BLX)

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