Brokerages Set Boralex Inc. (BLX) Price Target at $24.21

Boralex Inc. (TSE:BLX) has received a consensus rating of “Buy” from the eight analysts that are covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a buy rating. The average 1 year target price among brokerages that have issued a report on the stock in the last year is C$24.21.

BLX has been the topic of a number of research reports. BMO Capital Markets upped their target price on Boralex from C$24.50 to C$25.00 in a research report on Friday, September 8th. CIBC upped their target price on Boralex from C$24.50 to C$25.00 in a research report on Monday, July 24th.

Shares of Boralex (TSE:BLX) remained flat at $22.26 during trading on Friday. The company had a trading volume of 89,387 shares. Boralex has a one year low of $16.06 and a one year high of $23.00. The stock’s 50 day moving average price is $21.81 and its 200-day moving average price is $21.76. The firm’s market capitalization is $1.69 billion.

The company also recently announced a quarterly dividend, which was paid on Monday, September 18th. Stockholders of record on Thursday, August 31st were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.70%. This is a positive change from Boralex’s previous quarterly dividend of $0.13. The ex-dividend date was Tuesday, August 29th.

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In related news, Director Michelle Samson-Doel sold 2,000 shares of the company’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of C$22.10, for a total transaction of C$44,200.00. Insiders have sold 19,400 shares of company stock valued at $426,870 in the last quarter.

About Boralex

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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