Pinnacle Renewable Holdings Inc (TSE:PL) Declares $0.15 Quarterly Dividend
Pinnacle Renewable Holdings Inc (TSE:PL) announced a quarterly dividend on Monday, August 12th, Zacks reports. Investors of record on Friday, August 23rd will be given a dividend of 0.15 per share on Thursday, September 5th. This represents a $0.60 dividend on an annualized basis and a yield of 5.92%. The ex-dividend date of this dividend is Thursday, August 22nd.
Shares of TSE PL traded down C$0.24 during midday trading on Wednesday, hitting C$10.13. The stock had a trading volume of 9,770 shares, compared to its average volume of 44,096. The stock has a 50-day simple moving average of C$9.86. The stock has a market cap of $338.00 million and a price-to-earnings ratio of 43.57. Pinnacle Renewable has a fifty-two week low of C$8.53 and a fifty-two week high of C$17.00. The company has a debt-to-equity ratio of 171.27, a quick ratio of 0.56 and a current ratio of 1.11.
A number of analysts have recently commented on PL shares. Royal Bank of Canada cut their price target on Pinnacle Renewable from C$16.00 to C$15.00 and set an “outperform” rating on the stock in a report on Friday, May 10th. CIBC boosted their price target on Pinnacle Renewable from C$14.00 to C$14.50 in a research note on Tuesday, April 23rd.
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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