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

Boralex Inc. (TSE:BLX) Director Patrick Decostre sold 8,671 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of C$30.00, for a total transaction of C$260,130.00.

Boralex Stock Performance

Shares of TSE BLX opened at C$29.23 on Tuesday. Boralex Inc. has a 12 month low of C$24.40 and a 12 month high of C$36.68. 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 company has a market cap of C$3.04 billion, a P/E ratio of 42.85, a P/E/G ratio of 2.01 and a beta of 0.46. The business’s 50 day moving average is C$27.01 and its two-hundred day moving average is C$30.64.

Boralex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 17th will be paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend is Friday, February 28th. Boralex’s payout ratio is currently 96.76%.

Analysts Set New Price Targets

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