BMO Capital Markets Cuts Boralex (TSE:BLX) Price Target to C$39.00

Boralex (TSE:BLX) had its target price trimmed by BMO Capital Markets from C$42.00 to C$39.00 in a research report released on Thursday morning,BayStreet.CA reports.

Several other equities research analysts also recently commented on the stock. Cormark decreased their target price on shares of Boralex from C$47.00 to C$35.00 in a research report on Thursday, January 30th. National Bankshares decreased 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 research report on Tuesday, February 11th. Raymond James raised shares of Boralex to a “moderate buy” rating in a research report on Thursday, May 15th. Finally, Scotiabank decreased 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 report on Thursday, January 30th. One investment analyst has rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Boralex presently has an average rating of “Buy” and a consensus target price of C$39.38.

Boralex Price Performance

Shares of TSE BLX opened at C$30.05 on Thursday. The firm’s 50-day moving average price is C$29.50 and its 200-day moving average price is C$28.86. Boralex has a 1-year low of C$24.40 and a 1-year high of C$36.68. The firm has a market capitalization of C$3.13 billion, a P/E ratio of 44.06, a P/E/G ratio of 2.01 and a beta of 0.46. The company has a current ratio of 0.86, a quick ratio of 1.54 and a debt-to-equity ratio of 233.60.

Boralex Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 17th were given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date was Friday, February 28th. Boralex’s payout ratio is 96.76%.

Insiders Place Their Bets

In related news, Director Ricky Fontaine bought 1,000 shares of Boralex stock in a transaction dated Thursday, March 6th. The stock was purchased at an average cost of C$29.10 per share, with a total value of C$29,100.00. Also, Director Patrick Decostre sold 8,671 shares of the 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 transaction of C$260,130.00. 0.16% of the stock is currently owned by insiders.

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.