National Bankshares Cuts Boralex (TSE:BLX) Price Target to C$43.00

Boralex (TSE:BLX) had its target price cut by National Bankshares from C$46.00 to C$43.00 in a report issued on Tuesday,BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other equities analysts have also issued reports on the company. CIBC cut their target price on 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. BMO Capital Markets lowered their price target on Boralex from C$46.00 to C$45.00 in a report on Friday, November 15th. Cormark lowered their price target on Boralex from C$47.00 to C$35.00 in a report on Thursday, January 30th. Finally, Scotiabank lowered their price target on Boralex from C$42.00 to C$36.00 and set a “sector perform” rating for the company in a report on Thursday, January 30th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Boralex presently has a consensus rating of “Buy” and a consensus target price of C$40.50.

Boralex Stock Performance

Boralex stock opened at C$25.57 on Tuesday. The stock’s 50 day moving average price is C$27.41 and its 200 day moving average price is C$31.33. The firm has a market capitalization of C$2.66 billion, a PE ratio of 37.49, a price-to-earnings-growth ratio of 2.01 and a beta of 0.46. The company has a debt-to-equity ratio of 233.60, a quick ratio of 1.54 and a current ratio of 0.86. Boralex has a one year low of C$24.40 and a one year high of C$36.68.

Boralex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 17th will be given a dividend of $0.165 per share. 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 2.58%. Boralex’s dividend payout ratio (DPR) is presently 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.