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

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

Boralex Trading Down 0.6 %

Shares of Boralex stock opened at C$29.06 on Wednesday. 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 stock has a market capitalization of C$3.02 billion, a P/E ratio of 42.60, a price-to-earnings-growth ratio of 2.01 and a beta of 0.46. Boralex Inc. has a 12-month low of C$24.40 and a 12-month high of C$36.68. The company has a 50-day simple moving average of C$27.02 and a 200 day simple moving average of C$30.60.

Boralex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 17th will be paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date is Friday, February 28th. Boralex’s payout ratio is currently 96.76%.

Wall Street Analysts Forecast Growth

BLX has been the topic of a number of research reports. Scotiabank cut 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 note on Thursday, January 30th. CIBC lowered their price objective on shares of Boralex from C$42.00 to C$40.00 and set an “outperform” rating for the company in a research report on Wednesday, January 8th. Raymond James decreased their target price on shares of Boralex from C$41.00 to C$39.00 in a research report on Monday, March 3rd. 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. Finally, BMO Capital Markets decreased 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, three have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Boralex has a consensus rating of “Buy” and a consensus price target of C$40.25.

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.