Boralex Inc. (TSE:BLX) Receives Consensus Rating of “Buy” from Analysts

Boralex Inc. (TSE:BLX) has been given a consensus rating of “Buy” by the seven brokerages that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, four have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is C$40.50.

BLX has been the topic of several analyst reports. BMO Capital Markets cut their price target on shares of Boralex from C$46.00 to C$45.00 in a research report on Friday, November 15th. Scotiabank cut their price target on shares of Boralex from C$42.00 to C$36.00 and set a “sector perform” rating on the stock in a research report on Thursday, January 30th. CIBC cut 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. Cormark cut their price target on shares of Boralex from C$47.00 to C$35.00 in a research report on Thursday, January 30th. Finally, National Bankshares dropped their target price on shares of Boralex from C$46.00 to C$43.00 and set an “outperform” rating on the stock in a report on Tuesday, February 11th.

Boralex Trading Up 2.0 %

Shares of TSE:BLX opened at C$27.16 on Tuesday. The company’s 50-day moving average price is C$27.02 and its two-hundred day moving average price is C$31.01. The company has a debt-to-equity ratio of 233.60, a current ratio of 0.86 and a quick ratio of 1.54. Boralex has a one year low of C$24.40 and a one year high of C$36.68. The stock has a market capitalization of C$2.83 billion, a PE ratio of 39.82, a price-to-earnings-growth ratio of 2.01 and a beta of 0.46.

Boralex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 17th will be paid a $0.165 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.66 dividend on an annualized basis and a yield of 2.43%. Boralex’s dividend payout ratio (DPR) is currently 96.76%.

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.