Insider Buying: Polaris Renewable Energy (TSE:PIF) Director Acquires C$60,700.00 in Stock

Polaris Renewable Energy Inc. (TSE:PIF) Director Marc Murnaghan acquired 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 20th. The shares were acquired at an average cost of C$12.14 per share, for a total transaction of C$60,700.00. Following the completion of the acquisition, the director owned 518,501 shares of the company’s stock, valued at C$6,294,602.14. This trade represents a 0.97% increase in their ownership of the stock.

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

• 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 value of C$119,000.00.

Polaris Renewable Energy Price Performance

Shares of TSE PIF opened at C$12.28 on Monday. The company has a current ratio of 5.25, a quick ratio of 1.64 and a debt-to-equity ratio of 91.31. The stock has a market capitalization of C$256.59 million, a PE ratio of -94.46, a price-to-earnings-growth ratio of 3.28 and a beta of 0.51. The stock’s fifty day simple moving average is C$12.19 and its two-hundred day simple moving average is C$12.54. Polaris Renewable Energy Inc. has a 12-month low of C$10.70 and a 12-month high of C$14.20.

Polaris Renewable Energy (TSE:PIF) last announced its quarterly earnings results on Thursday, February 19th. The company reported C$0.39 earnings per share (EPS) for the quarter. The business had revenue of C$25.57 million for the quarter. Polaris Renewable Energy had a negative return on equity of 1.09% and a negative net margin of 3.29%. As a group, analysts expect that Polaris Renewable Energy Inc. will post 0.6481187 EPS for the current fiscal year.

Polaris Renewable Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 27th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 4.9%. The ex-dividend date was Tuesday, February 17th. Polaris Renewable Energy’s payout ratio is -461.54%.

Wall Street Analyst Weigh In

Several analysts have commented on PIF shares. Raymond James Financial decreased their price target on shares of Polaris Renewable Energy from C$20.00 to C$18.25 and set an “outperform” rating for the company in a research report on Friday, February 20th. National Bank Financial lifted their price objective on shares of Polaris Renewable Energy from C$20.00 to C$21.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 7th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of C$19.63.

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.