Valener (VNR) Reaches New 12-Month High at $23.24

Shares of Valener Inc (TSE:VNR) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as C$23.24 and last traded at C$23.05, with a volume of 37195 shares trading hands. The stock had previously closed at C$23.11.

A number of equities analysts have issued reports on VNR shares. National Bank Financial lifted their price objective on shares of Valener from C$23.00 to C$24.00 and gave the stock a “sector perform” rating in a report on Monday, November 27th. BMO Capital Markets reaffirmed a “market perform” rating and set a C$23.50 price objective on shares of Valener in a report on Monday, November 27th. Finally, TD Securities lifted their price objective on shares of Valener from C$22.00 to C$23.00 and gave the stock a “hold” rating in a report on Thursday, August 10th.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Sunday, December 31st will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 5.00%. The ex-dividend date is Thursday, December 28th. Valener’s dividend payout ratio is 64.20%.

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About Valener

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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