Pinnacle Renewable Holdings Inc (PL) to Issue Quarterly Dividend of $0.15 on December 6th

Pinnacle Renewable Holdings Inc (TSE:PL) announced a quarterly dividend on Tuesday, November 12th, Zacks reports. Shareholders of record on Friday, November 22nd will be paid a dividend of 0.15 per share on Friday, December 6th. This represents a $0.60 annualized dividend and a yield of 6.60%. The ex-dividend date is Thursday, November 21st.

PL stock traded up C$0.27 during midday trading on Tuesday, hitting C$9.09. The company’s stock had a trading volume of 44,345 shares, compared to its average volume of 47,646. The company has a debt-to-equity ratio of 182.22, a current ratio of 1.35 and a quick ratio of 0.46. Pinnacle Renewable has a twelve month low of C$5.98 and a twelve month high of C$13.53. The company’s fifty day moving average price is C$7.32 and its 200 day moving average price is C$9.54. The stock has a market capitalization of $265.07 million and a P/E ratio of 75.63.

Several research analysts have recently weighed in on PL shares. National Bank Financial lowered their price objective on shares of Pinnacle Renewable from C$15.50 to C$14.00 and set an “outperform” rating on the stock in a research note on Thursday, November 14th. CIBC reduced their target price on shares of Pinnacle Renewable from C$11.00 to C$10.00 in a report on Wednesday, October 23rd. GMP Securities lifted their target price on shares of Pinnacle Renewable from C$13.00 to C$14.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Finally, Royal Bank of Canada reduced their target price on shares of Pinnacle Renewable from C$15.00 to C$13.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of C$13.00.

About Pinnacle Renewable

Pinnacle Renewable Energy Inc, together with its subsidiaries, manufactures, distributes, and sells industrial wood pellets in North America, Asia, and Europe. The company produces renewable fuel for electricity generation in the form of industrial wood pellets, which are used by utilities and large-scale power generators to produce renewable and baseload power.

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