Insider Selling: Polaris Renewable Energy (TSE:PIF) Director Sells 20,000 Shares of Stock

Polaris Renewable Energy Inc. (TSE:PIF) Director Marc Murnaghan sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of C$12.56, for a total transaction of C$251,200.00. Following the transaction, the director directly owned 488,501 shares in the company, valued at C$6,135,572.56. This represents a 3.93% decrease in their ownership of the stock.

Marc Murnaghan also recently made the following trade(s):

• On Friday, March 20th, Marc Murnaghan bought 5,000 shares of Polaris Renewable Energy stock. The shares were acquired at an average cost of C$12.14 per share, for a total transaction of C$60,700.00.
• On Monday, March 23rd, Marc Murnaghan sold 10,000 shares of Polaris Renewable Energy stock. The stock was sold at an average price of C$11.90, for a total transaction of C$119,000.00.

Polaris Renewable Energy Stock Performance

Shares of PIF traded up C$0.01 during mid-day trading on Tuesday, hitting C$12.49. 32,338 shares of the company’s stock were exchanged, compared to its average volume of 40,158. Polaris Renewable Energy Inc. has a 52 week low of C$11.40 and a 52 week high of C$14.20. The stock’s 50-day simple moving average is C$12.51 and its 200-day simple moving average is C$12.29. The firm has a market cap of C$261.07 million, a price-to-earnings ratio of 37.85, a price-to-earnings-growth ratio of 3.28 and a beta of 0.43. The company has a quick ratio of 1.64, a current ratio of 4.90 and a debt-to-equity ratio of 91.92.

Polaris Renewable Energy (TSE:PIF) last announced its earnings results on Thursday, May 7th. The company reported C($0.04) EPS for the quarter. Polaris Renewable Energy had a return on equity of 2.96% and a net margin of 9.00%.The business had revenue of C$27.48 million for the quarter. On average, equities research analysts expect that Polaris Renewable Energy Inc. will post 0.6481187 EPS for the current year.

Polaris Renewable Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Friday, May 22nd will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend is Thursday, May 14th. Polaris Renewable Energy’s dividend payout ratio (DPR) is 181.82%.

Analyst Ratings Changes

Separately, Raymond James Financial decreased their price objective on shares of Polaris Renewable Energy from C$20.00 to C$18.25 and set an “outperform” rating on the stock in a research note on Friday, February 20th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of C$19.63.

About Polaris Renewable Energy

Polaris Renewable Energy Inc is a Canadian publicly traded company engaged in the acquisition, development, and operation of renewable energy projects in Latin America & the Caribbean. We are a high-performing and financially sound contributor to the energy transition. The Company’s operations include a geothermal plant (82 MW), four run-of river hydroelectric plants (39 MW), three solar (photovoltaic) projects (35 MW) and an onshore wind farm (26 MW).