Boralex Inc. (BLX) to Issue Quarterly Dividend of $0.17 on March 17th

Boralex Inc. (TSE:BLX) announced 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 2.20%. The ex-dividend date is Friday, February 28th.

Boralex Price Performance

Shares of TSE BLX traded up C$0.77 during trading on Wednesday, hitting C$30.01. The company had a trading volume of 146,599 shares, compared to its average volume of 345,000. The business’s 50-day moving average is C$26.97 and its 200 day moving average is C$30.93. The company has a market cap of C$3.12 billion, a P/E ratio of 44.00, a PEG ratio of 2.01 and a beta of 0.46. The company has a debt-to-equity ratio of 233.60, a quick ratio of 1.54 and a current ratio of 0.86. Boralex has a 52 week low of C$24.40 and a 52 week high of C$36.68.

Analyst Ratings Changes

A number of brokerages have commented on BLX. Scotiabank cut their price target on shares of 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. Cormark decreased their price target on Boralex from C$47.00 to C$35.00 in a research note on Thursday, January 30th. CIBC dropped 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. 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 note on Tuesday, February 11th. Finally, BMO Capital Markets dropped their target price on shares of Boralex from C$46.00 to C$45.00 in a research report on Friday, November 15th. One analyst has rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Boralex currently has a consensus rating of “Buy” and a consensus 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.