Insider Buying: Polaris Renewable Energy (TSE:PIF) Director Acquires 10,000 Shares of Stock

Polaris Renewable Energy Inc. (TSE:PIF) Director Marc Murnaghan acquired 10,000 shares of Polaris Renewable Energy stock in a transaction that occurred on Friday, May 22nd. The shares were bought at an average cost of C$12.52 per share, with a total value of C$125,200.00. Following the transaction, the director owned 498,501 shares in the company, valued at C$6,241,232.52. This represents a 2.05% increase in their ownership of the stock.

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

• On Monday, May 25th, Marc Murnaghan acquired 10,000 shares of Polaris Renewable Energy stock. The shares were bought at an average cost of C$12.84 per share, with a total value of C$128,400.00.
• On Tuesday, May 26th, Marc Murnaghan acquired 5,000 shares of Polaris Renewable Energy stock. The shares were bought at an average cost of C$12.90 per share, with a total value of C$64,500.00.
• On Thursday, May 14th, Marc Murnaghan sold 20,000 shares of Polaris Renewable Energy stock. The shares were sold at an average price of C$12.56, for a total value of C$251,200.00.
• On Friday, March 20th, Marc Murnaghan acquired 5,000 shares of Polaris Renewable Energy stock. The shares were bought at an average cost of C$12.14 per share, with a total value of C$60,700.00.
• On Monday, March 23rd, Marc Murnaghan sold 10,000 shares of Polaris Renewable Energy stock. The shares were sold at an average price of C$11.90, for a total value of C$119,000.00.

Polaris Renewable Energy Stock Up 0.5%

PIF stock traded up C$0.06 on Wednesday, reaching C$13.07. 51,640 shares of the company traded hands, compared to its average volume of 40,759. Polaris Renewable Energy Inc. has a one year low of C$11.55 and a one year high of C$14.20. The company has a debt-to-equity ratio of 91.92, a current ratio of 4.90 and a quick ratio of 1.64. The company has a market cap of C$273.19 million, a P/E ratio of 39.61, a price-to-earnings-growth ratio of 3.28 and a beta of 0.43. The firm has a fifty day simple moving average of C$12.57 and a 200-day simple moving average of C$12.27.

Polaris Renewable Energy (TSE:PIF) last posted its quarterly earnings data on Thursday, May 7th. The company reported C($0.04) earnings per share for the quarter. Polaris Renewable Energy had a net margin of 9.00% and a return on equity of 2.96%. The company had revenue of C$27.48 million for the quarter. Research analysts anticipate that Polaris Renewable Energy Inc. will post 0.6481187 earnings per share for the current year.

Polaris Renewable Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 22nd were issued a $0.15 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.6%. Polaris Renewable Energy’s dividend payout ratio (DPR) is presently 181.82%.

Wall Street Analyst Weigh In

Separately, Raymond James Financial reduced their target price on Polaris Renewable Energy from C$20.00 to C$18.25 and set an “outperform” rating for the company in a report on Friday, February 20th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Polaris Renewable Energy has an average rating of “Buy” and a consensus price target of C$19.63.

Polaris Renewable Energy Company Profile

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).