Boralex Inc. (TSE:BLX) has earned an average rating of “Buy” from the eight analysts that are presently covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a buy recommendation. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is C$24.21.

A number of brokerages have weighed in on BLX. BMO Capital Markets boosted their price target on Boralex from C$24.50 to C$25.00 in a research report on Friday, September 8th. CIBC boosted their price objective on Boralex from C$24.50 to C$25.00 in a report on Monday, July 24th.

Boralex (TSE BLX) opened at 21.30 on Wednesday. The stock’s market capitalization is $1.62 billion. Boralex has a 52 week low of $16.06 and a 52 week high of $23.00. The firm has a 50-day moving average of $21.97 and a 200 day moving average of $21.65.

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 18th. Stockholders of record on Thursday, August 31st were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date of this dividend was Tuesday, August 29th. This is a boost from Boralex’s previous quarterly dividend of $0.13.

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In other news, Director Michelle Samson-Doel sold 1,400 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of C$22.05, for a total transaction of C$30,870.00. In the last 90 days, insiders have sold 19,400 shares of company stock valued at $426,870.

Boralex Company Profile

Boralex Inc is a power producer that develops, constructs and operates renewable energy power stations. The Company’s segments include wind, hydroelectric, thermal and solar. It operates an asset base with a capacity of approximately 1,260 megawatts (MW), of which over 1,090 MW are under its control, consisting of approximately 490 MW in Canada, over 520 MW in France and over 80 MW in the Northeastern United States.

Analyst Recommendations for Boralex (TSE:BLX)

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