Boralex Inc. (TSE:BLX) to Issue $0.17 Quarterly Dividend

Boralex Inc. (TSE:BLX) announced a quarterly dividend on Friday, February 28th, TickerTech Dividends reports. Shareholders of record on Monday, March 17th will be given a dividend of 0.165 per share on Monday, March 17th. This represents a $0.66 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend is Friday, February 28th.

Boralex Trading Up 2.6 %

Shares of BLX stock traded up C$0.77 during trading hours on Wednesday, hitting C$30.01. 146,599 shares of the company’s stock traded hands, compared to its average volume of 345,000. The stock has a market cap of C$3.12 billion, a PE ratio of 44.00, a price-to-earnings-growth ratio of 2.01 and a beta of 0.46. The stock’s 50 day simple moving average is C$26.97 and its 200 day simple moving average is C$30.93. 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 12 month low of C$24.40 and a 12 month high of C$36.68.

Analyst Upgrades and Downgrades

A number of research firms have commented on BLX. Cormark reduced their price target on Boralex from C$47.00 to C$35.00 in a research report on Thursday, January 30th. National Bankshares dropped their price target on shares of Boralex from C$46.00 to C$43.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 11th. Scotiabank dropped their target price on 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 lowered their target price on shares of Boralex from C$42.00 to C$40.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 8th. Finally, BMO Capital Markets cut their target price on shares of Boralex from C$46.00 to C$45.00 in a research report on Friday, November 15th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of C$40.50.

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.