Insider Selling: Boralex Inc. (TSE:BLX) Director Sells 8,671 Shares of Stock

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

Boralex Trading Down 1.3 %

TSE BLX opened at C$29.23 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 1.54 and a debt-to-equity ratio of 233.60. Boralex Inc. has a 1-year low of C$24.40 and a 1-year high of C$36.68. The firm’s fifty day simple moving average is C$27.01 and its 200-day simple moving average is C$30.64. The company has a market capitalization of C$3.04 billion, a PE ratio of 42.85, a price-to-earnings-growth ratio of 2.01 and a beta of 0.46.

Boralex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 17th will be paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend is Friday, February 28th. Boralex’s dividend payout ratio (DPR) is presently 96.76%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Raymond James decreased their target price on shares of Boralex from C$41.00 to C$39.00 in a report on Monday, March 3rd. BMO Capital Markets lowered their price objective on shares of Boralex from C$46.00 to C$45.00 in a research report on Friday, November 15th. Cormark reduced their target price on Boralex from C$47.00 to C$35.00 in a report on Thursday, January 30th. National Bankshares lowered their price target on Boralex from C$46.00 to C$43.00 and set an “outperform” rating on the stock in a report on Tuesday, February 11th. Finally, Scotiabank dropped their price target on Boralex from C$42.00 to C$36.00 and set a “sector perform” rating on the stock in a research report on Thursday, January 30th. One 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. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price 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.