Valener (VNR) Reaches New 52-Week Low on Analyst Downgrade
Valener Inc (TSE:VNR)’s share price reached a new 52-week low on Tuesday after TD Securities lowered their price target on the stock from C$23.00 to C$22.00. TD Securities currently has a hold rating on the stock. Valener traded as low as C$20.59 and last traded at C$20.65, with a volume of 84099 shares traded. The stock had previously closed at C$21.05.
A number of other equities analysts also recently commented on the stock. National Bank Financial downgraded shares of Valener from a “sector perform” rating to an “underperform” rating and reduced their target price for the stock from C$24.00 to C$22.00 in a research note on Monday, January 29th. BMO Capital Markets reaffirmed a “market perform” rating and set a C$23.50 target price on shares of Valener in a research note on Monday, November 27th. Finally, Royal Bank of Canada reduced their target price on shares of Valener from C$24.00 to C$23.00 and set a “sector perform” rating on the stock in a research note on Monday.
The company has a market capitalization of $800.35, a P/E ratio of 14.68 and a beta of 0.02.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Saturday, March 31st will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 5.64%. The ex-dividend date is Wednesday, March 28th. Valener’s dividend payout ratio (DPR) is presently 81.43%.
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Valener Inc is a Canada-based energy company. The Company holds interests in Gaz Metro Limited Partnership (Gaz Metro), whose core operations are natural gas distribution in Quebec and Vermont, as well as electricity distribution in Vermont. The Company also owns indirect interests in wind farms through its subsidiaries, Valener Eole Inc and Valener Eole 4 Inc, which have approximately 154 turbines and an installed capacity of 340 megawatts.
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