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

Boralex Inc. (TSE:BLX) declared a quarterly dividend on Friday, February 28th, TickerTech Dividends reports. Investors of record on Monday, March 17th will be paid a dividend of 0.165 per share on Monday, March 17th. This represents a $0.66 annualized dividend and a yield of 2.21%. The ex-dividend date is Friday, February 28th.

Boralex Price Performance

Shares of BLX traded up C$0.64 on Wednesday, hitting C$29.88. The company’s stock had a trading volume of 91,254 shares, compared to its average volume of 342,965. The company has a market capitalization of C$3.11 billion, a PE ratio of 43.81, a PEG ratio of 2.01 and a beta of 0.46. Boralex has a fifty-two week low of C$24.40 and a fifty-two week high of C$36.68. The company has a 50 day moving average price of C$26.97 and a 200 day moving average price of C$30.93. The company has a debt-to-equity ratio of 233.60, a current ratio of 0.86 and a quick ratio of 1.54.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on BLX shares. Cormark lowered their target price on Boralex from C$47.00 to C$35.00 in a research note on Thursday, January 30th. Scotiabank lowered their price objective 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. National Bankshares reduced their target price 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. CIBC lowered their price target on shares of Boralex from C$42.00 to C$40.00 and set an “outperform” rating for the company in a report on Wednesday, January 8th. Finally, BMO Capital Markets reduced their price objective on Boralex from C$46.00 to C$45.00 in a report on Friday, November 15th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of C$40.50.

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.