Insider Buying: Polaris Renewable Energy (TSE:PIF) Director Buys C$128,400.00 in Stock

Polaris Renewable Energy Inc. (TSE:PIF) Director Marc Murnaghan bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 25th. The stock was acquired at an average cost of C$12.84 per share, with a total value of C$128,400.00. Following the transaction, the director owned 508,501 shares of the company’s stock, valued at C$6,529,152.84. This represents a 2.01% increase in their position.

Marc Murnaghan also recently made the following trade(s):

• On Friday, May 22nd, Marc Murnaghan bought 10,000 shares of Polaris Renewable Energy stock. The stock was acquired at an average cost of C$12.52 per share, with a total value of C$125,200.00.
• On Tuesday, May 26th, Marc Murnaghan bought 5,000 shares of Polaris Renewable Energy stock. The stock was acquired at an average cost of C$12.90 per share, with a total value of C$64,500.00.
• On Thursday, May 14th, Marc Murnaghan sold 20,000 shares of Polaris Renewable Energy stock. The shares were sold at an average price of C$12.56, for a total transaction of C$251,200.00.
• On Friday, March 20th, Marc Murnaghan bought 5,000 shares of Polaris Renewable Energy stock. The stock was acquired 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 shares were sold at an average price of C$11.90, for a total transaction of C$119,000.00.

Polaris Renewable Energy Stock Performance

Shares of PIF opened at C$12.99 on Friday. The firm has a 50-day moving average of C$12.63 and a 200-day moving average of C$12.28. Polaris Renewable Energy Inc. has a one year low of C$11.55 and a one year high of C$14.20. The company has a market cap of C$271.52 million, a PE ratio of 39.36, a price-to-earnings-growth ratio of 3.28 and a beta of 0.43. The company has a debt-to-equity ratio of 91.92, a current ratio of 4.90 and a quick ratio of 1.64.

Polaris Renewable Energy (TSE:PIF) last announced its quarterly earnings data on Thursday, May 7th. The company reported C($0.04) EPS for the quarter. Polaris Renewable Energy had a net margin of 9.00% and a return on equity of 2.96%. The firm had revenue of C$27.48 million during the quarter. As a group, equities analysts forecast that Polaris Renewable Energy Inc. will post 0.6481187 earnings per share for the current year.

Polaris Renewable Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 22nd were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend was Thursday, May 14th. Polaris Renewable Energy’s dividend payout ratio (DPR) is 181.82%.

Wall Street Analyst Weigh In

Separately, Raymond James Financial decreased their price objective on shares of 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.com, the company presently has an average 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).