Boralex Inc. (TSE:BLX) Director Patrick Decostre Sells 8,671 Shares

Boralex Inc. (TSE:BLX) 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.

Boralex Trading Down 0.6 %

Shares of BLX opened at C$29.06 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 1.54 and a debt-to-equity ratio of 233.60. The firm’s 50-day moving average is C$27.02 and its two-hundred day moving average is C$30.60. Boralex Inc. has a twelve month low of C$24.40 and a twelve month high of C$36.68. The firm has a market capitalization of C$3.02 billion, a P/E ratio of 42.60, a PEG ratio of 2.01 and a beta of 0.46.

Boralex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 17th will be given a $0.165 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.66 annualized dividend and a dividend yield of 2.27%. Boralex’s dividend payout ratio is presently 96.76%.

Wall Street Analyst Weigh In

Several analysts have recently commented on BLX shares. CIBC reduced their price target on shares of Boralex from C$42.00 to C$40.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 8th. Scotiabank lowered their target price on shares of 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. Raymond James decreased their price objective on shares of Boralex from C$41.00 to C$39.00 in a research note on Monday, March 3rd. BMO Capital Markets decreased their price objective on shares of Boralex from C$46.00 to C$45.00 in a research note on Friday, November 15th. Finally, National Bankshares reduced their target price on shares of Boralex from C$46.00 to C$43.00 and set an “outperform” rating for the company in a report on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of C$40.25.

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.