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

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

Several equities analysts have recently weighed in on the company. National Bankshares reduced their price objective on Boralex from C$46.00 to C$43.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 11th. CIBC decreased their price target on Boralex from C$42.00 to C$40.00 and set an “outperform” rating for the company in a report on Wednesday, January 8th. Raymond James decreased their price target on Boralex from C$41.00 to C$39.00 in a report on Monday, March 3rd. Scotiabank decreased their price target on Boralex from C$42.00 to C$36.00 and set a “sector perform” rating for the company in a report on Thursday, January 30th. Finally, Cormark decreased their price target on Boralex from C$47.00 to C$35.00 in a report on Thursday, January 30th.

Boralex Stock Performance

TSE BLX opened at C$29.80 on Friday. The firm has a market capitalization of C$3.10 billion, a P/E ratio of 43.69, a P/E/G ratio of 2.01 and a beta of 0.46. Boralex has a 1-year low of C$24.40 and a 1-year 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 business’s 50-day simple moving average is C$27.20 and its 200-day simple moving average is C$30.39.

Boralex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 17th were paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 2.21%. The ex-dividend date was Friday, February 28th. Boralex’s dividend payout ratio (DPR) is currently 96.76%.

Insider Activity

In other news, Director Ricky Fontaine purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The shares were acquired at an average cost of C$29.10 per share, with a total value of C$29,100.00. Also, Director Patrick Decostre sold 8,671 shares of the company’s stock in a transaction that occurred 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. Company 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.