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 Boralex stock in a transaction that occurred 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 Price Performance

TSE BLX opened at C$29.21 on Thursday. Boralex Inc. has a 12 month low of C$24.40 and a 12 month high of C$36.68. The company has a debt-to-equity ratio of 233.60, a current ratio of 0.86 and a quick ratio of 1.54. The firm has a market capitalization of C$3.04 billion, a PE ratio of 42.82, a P/E/G ratio of 2.01 and a beta of 0.46. The company’s 50 day simple moving average is C$27.03 and its 200 day simple moving average is C$30.59.

Boralex Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on BLX shares. CIBC cut their price target on Boralex from C$42.00 to C$40.00 and set an “outperform” rating on the stock in a report on Wednesday, January 8th. Raymond James cut their price target on Boralex from C$41.00 to C$39.00 in a report on Monday, March 3rd. National Bankshares cut 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. BMO Capital Markets cut their price target on Boralex from C$46.00 to C$45.00 in a report on Friday, November 15th. Finally, Scotiabank lowered their price objective on shares of Boralex from C$42.00 to C$36.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 30th. One analyst has rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Boralex has a consensus rating of “Buy” and a consensus price target 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.