Polaris Renewable Energy (TSE:PIF) Hits New 52-Week High – Here’s What Happened

Polaris Renewable Energy Inc. (TSE:PIF)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as C$13.73 and last traded at C$13.66, with a volume of 7675 shares. The stock had previously closed at C$13.65.

Wall Street Analyst Weigh In

PIF has been the topic of a number of research analyst reports. National Bank Financial raised shares of Polaris Renewable Energy to a “strong-buy” rating in a report on Sunday, June 8th. Cormark cut Polaris Renewable Energy from a “strong-buy” rating to a “moderate buy” rating in a report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Strong Buy” and a consensus price target of C$22.67.

Polaris Renewable Energy Stock Performance

The stock has a market cap of C$288.85 million, a PE ratio of -27.50, a P/E/G ratio of 3.28 and a beta of 0.59. The company has a fifty day moving average price of C$12.73 and a 200 day moving average price of C$12.15. The company has a quick ratio of 1.64, a current ratio of 1.82 and a debt-to-equity ratio of 57.48.

Polaris Renewable Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 22nd were issued a $0.15 dividend. The ex-dividend date was Monday, August 11th. This represents a $0.60 annualized dividend and a dividend yield of 4.4%. Polaris Renewable Energy’s dividend payout ratio (DPR) is currently -120.00%.

Polaris Renewable Energy Company Profile

Polaris Infrastructure Inc is engaged in the acquisition, exploration, development and operation of geothermal and hydroelectric energy projects. The company, through its subsidiaries, owns and operates a 72-megawatt capacity geothermal facility (the San Jacinto Project), located in northwest Nicaragua.