Desjardins Cuts Boralex (TSE:BLX) Price Target to C$43.00

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

Other analysts also recently issued research reports about the stock. Scotiabank reduced their price target on shares of 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 dropped their price objective on Boralex from C$43.00 to C$41.00 and set an “outperform” rating for the company in a research report on Monday, August 11th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Boralex currently has a consensus rating of “Buy” and a consensus target price of C$38.75.

Boralex Stock Performance

TSE BLX opened at C$28.16 on Tuesday. The business has a 50 day moving average price of C$28.00 and a 200 day moving average price of C$30.04. The company has a market capitalization of C$2.89 billion, a P/E ratio of -312.89, a PEG ratio of 2.01 and a beta of 0.22. Boralex has a 1-year low of C$24.40 and a 1-year high of C$34.08. The company has a debt-to-equity ratio of 233.60, a current ratio of 0.86 and a quick ratio of 1.54.

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 issued a dividend of $0.165 per share. The ex-dividend date was Friday, August 29th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.3%. Boralex’s payout ratio is presently -733.33%.

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.