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 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date is Friday, February 28th.

Boralex Stock Up 2.5 %

TSE BLX traded up C$0.74 during trading on Wednesday, reaching C$29.98. 134,847 shares of the company’s stock were exchanged, compared to its average volume of 344,278. The company has a 50 day moving average price of C$26.97 and a two-hundred day moving average price of C$30.93. The stock has a market cap of C$3.12 billion, a P/E ratio of 43.95, a price-to-earnings-growth ratio of 2.01 and a beta of 0.46. Boralex has a 1 year low of C$24.40 and a 1 year high of C$36.68. The company has a debt-to-equity ratio of 233.60, a quick ratio of 1.54 and a current ratio of 0.86.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on BLX shares. Scotiabank decreased their target price on Boralex from C$42.00 to C$36.00 and set a “sector perform” rating for the company in a research note on Thursday, January 30th. BMO Capital Markets reduced their price objective on shares of Boralex from C$46.00 to C$45.00 in a research report on Friday, November 15th. CIBC dropped 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 report on Wednesday, January 8th. National Bankshares cut 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 note on Tuesday, February 11th. Finally, Cormark decreased their price objective on shares of Boralex from C$47.00 to C$35.00 in a research note on Thursday, January 30th. One 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, the company presently has an average rating of “Buy” and an average price target 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.