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

Boralex Inc. (TSE:BLX) has received an average rating of “Buy” from the five research firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold recommendation, two have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is C$40.25.

BLX has been the subject of several research reports. National Bankshares reduced their price objective on Boralex from C$46.00 to C$43.00 and set an “outperform” rating for the company in a report on Tuesday, February 11th. Cormark dropped their price target on Boralex from C$47.00 to C$35.00 in a research report on Thursday, January 30th. Scotiabank decreased their price objective 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, Raymond James upgraded Boralex to a “moderate buy” rating in a research note on Thursday.

Insider Activity

In other Boralex news, Director Ricky Fontaine bought 1,000 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were acquired at an average cost of C$29.10 per share, for a total transaction 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 stock was sold at an average price of C$30.00, for a total transaction of C$260,130.00. Company insiders own 0.16% of the company’s stock.

Boralex Stock Down 3.2%

Boralex stock opened at C$29.60 on Friday. The firm has a 50 day moving average price of C$29.40 and a 200-day moving average price of C$28.98. The company has a quick ratio of 1.54, a current ratio of 0.86 and a debt-to-equity ratio of 233.60. Boralex has a twelve month low of C$24.40 and a twelve month high of C$36.68. The company has a market capitalization of C$3.08 billion, a P/E ratio of 43.40, a P/E/G ratio of 2.01 and a beta of 0.46.

Boralex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 17th were issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend was Friday, February 28th. Boralex’s payout ratio is presently 96.76%.

About Boralex

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.