Insider Buying: Polaris Renewable Energy (TSE:PIF) Director Buys 5,000 Shares of Stock

Polaris Renewable Energy Inc. (TSE:PIF) Director Marc Murnaghan purchased 5,000 shares of the stock in a transaction dated Tuesday, May 26th. The stock was bought at an average cost of C$12.90 per share, with a total value of C$64,500.00. Following the transaction, 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 purchased 10,000 shares of Polaris Renewable Energy stock. The stock was bought at an average cost of C$12.52 per share, with a total value of C$125,200.00.
• On Monday, May 25th, Marc Murnaghan purchased 10,000 shares of Polaris Renewable Energy stock. The stock was bought at an average cost of C$12.84 per share, with a total value 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 value of C$251,200.00.
• On Friday, March 20th, Marc Murnaghan purchased 5,000 shares of Polaris Renewable Energy stock. The stock was 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 stock was 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%

Shares of PIF traded up C$0.06 during trading hours on Wednesday, hitting C$13.07. The company had a trading volume of 51,640 shares, compared to its average volume of 40,759. The firm has a fifty day moving average price of C$12.57 and a 200-day moving average price of C$12.27. The company has a debt-to-equity ratio of 91.92, a quick ratio of 1.64 and a current ratio of 4.90. The stock has a market capitalization of C$273.19 million, a price-to-earnings ratio of 39.61, a P/E/G ratio of 3.28 and a beta of 0.43. Polaris Renewable Energy Inc. has a 52-week low of C$11.55 and a 52-week high of C$14.20.

Polaris Renewable Energy (TSE:PIF) last issued its earnings results on Thursday, May 7th. The company reported C($0.04) earnings per share 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 during the quarter. On average, equities research analysts forecast that Polaris Renewable Energy Inc. will post 0.6481187 EPS 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 given 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 yield of 4.6%. Polaris Renewable Energy’s payout ratio is 181.82%.

Wall Street Analyst Weigh In

Separately, Raymond James Financial decreased 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 research report on Friday, February 20th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Polaris Renewable Energy currently has a consensus rating of “Buy” and a consensus price target 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).