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

Boralex Inc. (TSE:BLX) Director Patrick Decostre sold 8,671 shares of the firm’s 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.

Boralex Stock Performance

Shares of TSE BLX opened at C$29.21 on Thursday. 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 firm’s 50-day moving average price is C$27.03 and its two-hundred day moving average price is C$30.59. Boralex Inc. has a 52-week low of C$24.40 and a 52-week high of C$36.68. The stock has a market capitalization of C$3.04 billion, a P/E ratio of 42.82, a P/E/G ratio of 2.01 and a beta of 0.46.

Boralex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 17th will be issued 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 2.26%. Boralex’s dividend payout ratio is currently 96.76%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on BLX. National Bankshares lowered their target price on Boralex from C$46.00 to C$43.00 and set an “outperform” rating for the company in a research note on Tuesday, February 11th. BMO Capital Markets reduced their price target on shares of Boralex from C$46.00 to C$45.00 in a research report on Friday, November 15th. Raymond James reduced their price target on shares of Boralex from C$41.00 to C$39.00 in a research report on Monday, March 3rd. Cormark reduced their price target on shares of Boralex from C$47.00 to C$35.00 in a research report on Thursday, January 30th. Finally, Scotiabank reduced 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. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of C$40.25.

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.