Boralex (TSE:BLX) Given New C$43.00 Price Target at Desjardins

Boralex (TSE:BLX) had its price target decreased by Desjardins from C$45.00 to C$43.00 in a report released on Tuesday,BayStreet.CA reports. Desjardins currently has a top pick rating on the stock.

Other equities analysts have also recently issued reports about the company. Scotiabank decreased their price objective on Boralex from C$36.00 to C$35.00 and set a “sector perform” rating on the stock in a report on Monday, August 11th. National Bankshares decreased their price objective on Boralex from C$43.00 to C$41.00 and set an “outperform” rating on the stock in a report on Monday, August 11th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of C$38.75.

Boralex Stock Performance

Shares of TSE BLX opened at C$28.57 on Tuesday. The stock has a market cap of C$2.94 billion, a price-to-earnings ratio of -317.44, a P/E/G ratio of 2.01 and a beta of 0.22. 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 has a 1-year low of C$24.40 and a 1-year high of C$34.25. The stock’s 50-day moving average is C$28.05 and its 200 day moving average is C$30.05.

Boralex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 15th were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Friday, August 29th. Boralex’s dividend payout ratio (DPR) is presently -733.33%.

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.