Marc Murnaghan Buys 41,500 Shares of Polaris Renewable Energy Inc. (TSE:PIF) Stock

Polaris Renewable Energy Inc. (TSE:PIF) Director Marc Murnaghan purchased 41,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was acquired at an average price of C$12.49 per share, for a total transaction of C$518,413.85.

Polaris Renewable Energy Stock Performance

Polaris Renewable Energy stock opened at C$12.37 on Friday. The firm has a market capitalization of C$260.76 million, a PE ratio of 24.74, a price-to-earnings-growth ratio of 3.28 and a beta of 0.97. Polaris Renewable Energy Inc. has a one year low of C$11.08 and a one year high of C$14.14. The stock’s 50 day moving average price is C$12.37 and its 200 day moving average price is C$12.53. The company has a debt-to-equity ratio of 62.63, a quick ratio of 1.64 and a current ratio of 1.86.

Polaris Renewable Energy Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 11th will be given a dividend of $0.203 per share. The ex-dividend date is Friday, November 8th. This represents a $0.81 dividend on an annualized basis and a dividend yield of 6.56%. Polaris Renewable Energy’s payout ratio is currently 164.00%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. National Bankshares increased their price objective on shares of Polaris Renewable Energy from C$19.00 to C$20.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. Raymond James increased their price target on Polaris Renewable Energy from C$19.00 to C$21.00 and gave the company a “strong-buy” rating in a report on Friday, November 1st.

Polaris Renewable Energy Company Profile

Polaris Renewable Energy Inc engages in the acquisition, exploration, development, and operation of renewable energy projects in Latin America. It operates 82 megawatts (MW) net geothermal facility in Nicaragua; and 3 run-of-river hydroelectric facilities in Peru, with combined capacity of approximately 33 MW; a 25 MW solar plant facility in the Dominican Republic; a 6 MW run-of-river hydroelectric facility in Ecuador; and a 10 MW solar plant in Panama.