Boralex (TSE:BLX) Share Price Crosses Above 200-Day Moving Average – Should You Sell?

Boralex Inc. (TSE:BLX)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$29.09 and traded as high as C$31.79. Boralex shares last traded at C$31.39, with a volume of 283,700 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BLX. Scotiabank dropped their price objective on 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. Cormark dropped their price target on Boralex from C$47.00 to C$35.00 in a research report on Thursday, January 30th. Raymond James lowered their price objective on shares of Boralex from C$41.00 to C$39.00 in a research note on Monday, March 3rd. Finally, National Bankshares cut their target price on shares of Boralex from C$46.00 to C$43.00 and set an “outperform” rating for the company in a research note on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of C$40.25.

Boralex Price Performance

The company has a market cap of C$3.27 billion, a price-to-earnings ratio of 46.02, a price-to-earnings-growth ratio of 2.01 and a beta of 0.46. The company has a current ratio of 0.86, a quick ratio of 1.54 and a debt-to-equity ratio of 233.60. The company has a fifty day moving average price of C$29.26 and a two-hundred day moving average price of C$29.09.

Boralex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 17th were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend was Friday, February 28th. Boralex’s dividend payout ratio (DPR) is presently 96.76%.

Insider Activity

In related news, Director Patrick Decostre sold 8,671 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of C$30.00, for a total transaction of C$260,130.00. Also, Director Ricky Fontaine purchased 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was bought at an average cost of C$29.10 per share, for a total transaction of C$29,100.00. Corporate insiders own 0.16% of the company’s stock.

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.