Boralex Inc. (TSE:BLX) Director Sells C$260,130.00 in Stock

Boralex Inc. (TSE:BLX) Director Patrick Decostre sold 8,671 shares of Boralex stock in a transaction 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.

Boralex Stock Performance

BLX stock opened at C$29.06 on Friday. The business has a 50 day moving average of C$27.03 and a 200-day moving average of C$30.59. The firm has a market cap of C$3.02 billion, a PE ratio of 42.60, a P/E/G 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 quick ratio of 1.54, a current ratio of 0.86 and a debt-to-equity ratio of 233.60.

Boralex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 17th will be given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend is Friday, February 28th. Boralex’s dividend payout ratio is presently 96.76%.

Analyst Upgrades and Downgrades

BLX has been the topic of a number of recent research reports. Cormark dropped their price objective on shares of Boralex from C$47.00 to C$35.00 in a research note on Thursday, January 30th. BMO Capital Markets dropped their price target on shares of Boralex from C$46.00 to C$45.00 in a research report on Friday, November 15th. Scotiabank decreased their price objective 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. CIBC lowered their price objective on Boralex from C$42.00 to C$40.00 and set an “outperform” rating for the company in a research note on Wednesday, January 8th. Finally, Raymond James cut their target price on Boralex from C$41.00 to C$39.00 in a research report on Monday, March 3rd. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of C$40.25.

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.