Boralex (TSE:BLX) Price Target Cut to C$36.00

Boralex (TSE:BLXGet Rating) had its target price reduced by Credit Suisse Group to C$36.00 in a research report released on Monday, Stock Target Advisor reports.

Other equities analysts also recently issued research reports about the stock. Scotiabank decreased their price objective on shares of Boralex from C$51.00 to C$50.00 in a report on Thursday, November 10th. Raymond James lifted their price objective on shares of Boralex from C$51.00 to C$52.00 and gave the stock an outperform rating in a report on Thursday, August 4th. CSFB decreased their price objective on shares of Boralex from C$43.00 to C$36.00 in a report on Monday. TD Securities decreased their price objective on shares of Boralex from C$53.00 to C$50.00 and set a buy rating for the company in a report on Thursday, November 10th. Finally, Royal Bank of Canada decreased their price objective on shares of Boralex from C$42.00 to C$40.00 and set a sector perform rating for the company in a report on Monday. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of C$44.58.

Boralex Stock Performance

Boralex stock opened at C$37.78 on Monday. The company has a market cap of C$3.88 billion and a PE ratio of 114.48. The company has a fifty day moving average price of C$40.14 and a two-hundred day moving average price of C$42.71. The company has a debt-to-equity ratio of 171.03, a current ratio of 1.64 and a quick ratio of 1.54. Boralex has a 12 month low of C$30.04 and a 12 month high of C$51.55.

Boralex Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, September 16th were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend was Tuesday, August 30th. Boralex’s payout ratio is 200.00%.

Insider Buying and Selling at Boralex

In related news, Director Dany St-Pierre acquired 1,530 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The shares were acquired at an average cost of C$46.21 per share, for a total transaction of C$70,695.96. Following the completion of the purchase, the director now directly owns 1,530 shares in the company, valued at C$70,695.96.

About Boralex

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Boralex Inc, together with its subsidiaries, engages in the development, construction, and operation of renewable energy power facilities primarily in Canada, France, and the United States. As of December 31, 2021, the company had interests in 90 wind power stations with an installed capacity of 2,032 megawatts (MW); 16 hydroelectric power stations with a capacity of 181 MW; 12 solar power stations with an installed capacity of 244 MW; and one thermal power station with an installed capacity of 35 MW.

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