Polaris Renewable Energy (TSE:PIF) Hits New 12-Month High – Here’s Why

Polaris Renewable Energy Inc. (TSE:PIF) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$15.16 and last traded at C$15.13, with a volume of 44321 shares changing hands. The stock had previously closed at C$14.89.

Polaris Renewable Energy Stock Performance

The firm has a fifty day simple moving average of C$13.35 and a 200 day simple moving average of C$12.61. The company has a current ratio of 4.90, a quick ratio of 1.64 and a debt-to-equity ratio of 91.92. The stock has a market cap of C$315.62 million, a price-to-earnings ratio of 45.76, a PEG ratio of 3.28 and a beta of 0.62.

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

Polaris Renewable Energy Dividend Announcement

The firm also recently declared 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. The ex-dividend date was Thursday, May 14th. This represents a $0.60 dividend on an annualized basis and a yield of 4.0%. Polaris Renewable Energy’s payout ratio is currently 181.82%.

Insiders Place Their Bets

In other Polaris Renewable Energy news, Director Marc Murnaghan purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was purchased at an average price of C$12.90 per share, with a total value of C$64,500.00. Following the completion of the transaction, the director directly owned 513,501 shares of the company’s stock, valued at approximately C$6,624,162.90. This trade represents a 0.98% increase in their position. Insiders have bought a total of 25,000 shares of company stock valued at $318,100 over the last quarter. Insiders own 2.94% of the company’s stock.

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).