Boralex Inc. (TSE:BLX) Receives Average Recommendation of “Buy” from Analysts

Boralex Inc. (TSE:BLX) has received a consensus recommendation of “Buy” from the six research firms that are currently covering the company, MarketBeat.com reports. One equities research 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 1 year target price among brokerages that have issued ratings on the stock in the last year is C$40.25.

A number of research analysts have recently weighed in on BLX shares. Cormark dropped their price target on Boralex from C$47.00 to C$35.00 in a research report on Thursday, January 30th. Raymond James dropped their price target on Boralex from C$41.00 to C$39.00 in a research report on Monday, March 3rd. CIBC dropped their price target on 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. National Bankshares dropped their price target on 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. Finally, Scotiabank dropped 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 report on Thursday, January 30th.

Boralex Price Performance

Boralex stock opened at C$29.80 on Friday. Boralex has a one year low of C$24.40 and a one year high of C$36.68. The company has a debt-to-equity ratio of 233.60, a quick ratio of 1.54 and a current ratio of 0.86. The business has a fifty day moving average of C$27.20 and a two-hundred day moving average of C$30.39. The company has a market cap of C$3.10 billion, a P/E ratio of 43.69, a price-to-earnings-growth ratio of 2.01 and a beta of 0.46.

Boralex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 17th were given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date was Friday, February 28th. Boralex’s dividend payout ratio is presently 96.76%.

Insider Buying and Selling at Boralex

In other Boralex news, Director Ricky Fontaine purchased 1,000 shares of the stock in a transaction on Thursday, March 6th. The stock was bought at an average price of C$29.10 per share, for a total transaction of C$29,100.00. Also, Director Patrick Decostre sold 8,671 shares of Boralex stock in a transaction dated Monday, March 10th. The shares were sold at an average price of C$30.00, for a total value of C$260,130.00. 0.16% of the stock is owned by company insiders.

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.