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

Shares of Boralex Inc. (TSE:BLX) 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.

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

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.