Polaris Renewable Energy (TSE:PIF) Hits New 52-Week High – What’s Next?

Shares of Polaris Renewable Energy Inc. (TSE:PIF) reached a new 52-week high during trading on Monday . The company traded as high as C$16.05 and last traded at C$15.81, with a volume of 22292 shares. The stock had previously closed at C$15.93.

Polaris Renewable Energy Stock Up 1.7%

The firm’s fifty day moving average is C$13.72 and its 200-day moving average is C$12.79. The company has a market capitalization of C$328.58 million, a P/E ratio of 47.64, a price-to-earnings-growth ratio of 3.28 and a beta of 0.54. The company has a debt-to-equity ratio of 91.92, a quick ratio of 1.64 and a current ratio of 4.90.

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. The company had revenue of C$27.48 million during the quarter. Polaris Renewable Energy had a net margin of 9.00% and a return on equity of 2.96%. As a group, equities research analysts predict that Polaris Renewable Energy Inc. will post 0.6481187 EPS for the current year.

Polaris Renewable Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 22nd were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Thursday, May 14th. Polaris Renewable Energy’s dividend payout ratio is presently 181.82%.

Insider Activity at Polaris Renewable Energy

In other news, Director Marc Murnaghan purchased 5,000 shares of Polaris Renewable Energy stock in a transaction dated Tuesday, May 26th. The shares were bought at an average cost of C$12.90 per share, for a total transaction of C$64,500.00. Following the completion of the acquisition, the director owned 513,501 shares in the company, valued at approximately C$6,624,162.90. This trade represents a 0.98% increase in their position. Insiders bought 25,000 shares of company stock worth $318,100 over the last quarter. Company 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).