Boralex Inc. (TSE:BLX) Given Average Recommendation of “Buy” by Analysts

Boralex Inc. (TSE:BLX) has received a consensus recommendation of “Buy” from the six brokerages that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is C$40.25.

Several equities analysts have issued reports on the stock. 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 report on Tuesday, February 11th. Scotiabank decreased their price target on shares of Boralex from C$42.00 to C$36.00 and set a “sector perform” rating for the company in a research report on Thursday, January 30th. CIBC decreased their price target on shares of Boralex from C$42.00 to C$40.00 and set an “outperform” rating for the company in a research report on Wednesday, January 8th. Raymond James decreased their price objective on shares of Boralex from C$41.00 to C$39.00 in a research report on Monday, March 3rd. Finally, Cormark decreased their price objective on shares of Boralex from C$47.00 to C$35.00 in a research report on Thursday, January 30th.

Insiders Place Their Bets

In other Boralex news, Director Patrick Decostre sold 8,671 shares of the firm’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 acquired 1,000 shares of the company’s stock in a transaction on Thursday, March 6th. The stock was acquired at an average cost of C$29.10 per share, for a total transaction of C$29,100.00. Corporate insiders own 0.16% of the company’s stock.

Boralex Trading Down 0.7 %

Shares of TSE BLX opened at C$28.85 on Friday. 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 has a 50 day moving average price of C$27.03 and a two-hundred day moving average price of C$30.58. The stock has a market cap of C$3.00 billion, a P/E ratio of 42.30, a price-to-earnings-growth ratio of 2.01 and a beta of 0.46.

Boralex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 17th will be issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend is Friday, February 28th. Boralex’s payout ratio is 96.76%.

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.