Insider Buying: Polaris Renewable Energy (TSE:PIF) Director Buys C$64,500.00 in Stock

Polaris Renewable Energy Inc. (TSE:PIF) Director Marc Murnaghan bought 5,000 shares of the stock in a transaction on Tuesday, May 26th. The shares were acquired at an average cost of C$12.90 per share, for a total transaction of C$64,500.00. Following the purchase, the director owned 513,501 shares in the company, valued at C$6,624,162.90. The trade was a 0.98% increase in their ownership of the stock.

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

• On Friday, May 22nd, Marc Murnaghan bought 10,000 shares of Polaris Renewable Energy stock. The shares were acquired at an average cost of C$12.52 per share, for a total transaction of C$125,200.00.
• On Monday, May 25th, Marc Murnaghan bought 10,000 shares of Polaris Renewable Energy stock. The shares were acquired at an average cost of C$12.84 per share, for a total transaction of C$128,400.00.
• On Thursday, May 14th, Marc Murnaghan sold 20,000 shares of Polaris Renewable Energy stock. The stock was sold at an average price of C$12.56, for a total transaction of C$251,200.00.
• 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 Trading Down 1.2%

Shares of PIF opened at C$12.99 on Friday. Polaris Renewable Energy Inc. has a 52-week low of C$11.55 and a 52-week high of C$14.20. The company has a quick ratio of 1.64, a current ratio of 4.90 and a debt-to-equity ratio of 91.92. The firm’s fifty day moving average is C$12.63 and its two-hundred day moving average is C$12.28. The stock has a market cap of C$271.52 million, a PE ratio of 39.36, a price-to-earnings-growth ratio of 3.28 and a beta of 0.43.

Polaris Renewable Energy (TSE:PIF) last announced its earnings results on Thursday, May 7th. The company reported C($0.04) earnings per share (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. Research analysts forecast that Polaris Renewable Energy Inc. will post 0.6481187 earnings per share for the current fiscal year.

Polaris Renewable Energy Dividend Announcement

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

Analysts Set New Price Targets

Separately, Raymond James Financial lowered their price target 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 report on Friday, February 20th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Polaris Renewable Energy presently has a consensus rating of “Buy” and an average 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).