Boralex (TSE:BLX) Hits New 52-Week High at $24.94

Boralex Inc. (TSE:BLX)’s stock price reached a new 52-week high on Friday . The stock traded as high as C$24.94 and last traded at C$24.81, with a volume of 55370 shares traded. The stock had previously closed at C$24.68.

BLX has been the subject of a number of recent analyst reports. Raymond James reissued an “outperform” rating and set a C$26.00 target price on shares of Boralex in a research note on Friday, November 8th. CIBC raised their price target on shares of Boralex from C$25.00 to C$26.50 in a research note on Friday, November 29th. National Bank Financial lifted their price objective on shares of Boralex from C$26.00 to C$27.00 and gave the company an “outperform” rating in a report on Friday, November 29th. BMO Capital Markets boosted their price objective on shares of Boralex from C$23.00 to C$26.00 in a research report on Monday, September 9th. Finally, TD Securities upped their target price on shares of Boralex from C$24.00 to C$25.00 and gave the stock a “buy” rating in a research note on Friday, November 8th.

The firm has a 50 day moving average of C$23.05 and a 200-day moving average of C$21.14. The company has a market cap of $2.38 billion and a P/E ratio of -216.84. The company has a quick ratio of 0.61, a current ratio of 0.81 and a debt-to-equity ratio of 465.31.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 16th will be given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date is Tuesday, November 26th. Boralex’s dividend payout ratio (DPR) is presently -578.95%.

Boralex Company Profile (TSE:BLX)

Boralex Inc, together with its subsidiaries, develops, constructs, and operates renewable energy power facilities primarily in Canada, France, and the United States. As of December 31, 2018, the company had interests in 81 wind power stations with an installed capacity of 1,723 megawatts (MW); 15 hydroelectric power stations with a capacity of 156 MW; 2 thermal power stations with an installed capacity of 47 MW; and 3 solar power stations with an installed capacity of 16 MW.

Featured Story: What is Net Asset Value (NAV)?

Receive News & Ratings for Boralex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boralex and related companies with MarketBeat.com's FREE daily email newsletter.