Boralex Inc. Declares Quarterly Dividend of $0.17 (TSE:BLX)

Boralex Inc. (TSE:BLX) declared a quarterly dividend on Friday, February 28th, TickerTech Dividends reports. Investors of record on Monday, March 17th will be given a dividend of 0.165 per share on Monday, March 17th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend is Friday, February 28th.

Boralex Stock Performance

BLX traded up C$0.74 on Wednesday, hitting C$29.98. 134,847 shares of the company traded hands, compared to its average volume of 344,278. Boralex has a 12-month low of C$24.40 and a 12-month high of C$36.68. The company has a 50 day moving average of C$26.97 and a 200-day moving average of C$30.93. 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 capitalization of C$3.12 billion, a PE ratio of 43.95, a PEG ratio of 2.01 and a beta of 0.46.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BLX. Scotiabank cut their price target on Boralex from C$42.00 to C$36.00 and set a “sector perform” rating for the company in a research note on Thursday, January 30th. National Bankshares cut their price objective 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. CIBC lowered their target price 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. BMO Capital Markets cut their price target on shares of Boralex from C$46.00 to C$45.00 in a report on Friday, November 15th. Finally, Cormark reduced their price objective on shares of Boralex from C$47.00 to C$35.00 in a research report on Thursday, January 30th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of C$40.50.

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.