Polaris Renewable Energy (TSE:PIF) Shares Climb 2.1% – Here’s What Happened

Polaris Renewable Energy Inc. (TSE:PIF)’s stock price was up 2.1% on Friday. The company traded as high as C$14.00 and last traded at C$13.85. 94,689 shares changed hands during mid-day trading, an increase of 160% from the average daily volume of 36,454 shares. The stock had previously closed at C$13.56.

Polaris Renewable Energy Price Performance

The stock has a fifty day moving average of C$13.80 and a 200-day moving average of C$13.56. The firm has a market capitalization of C$289.40 million, a P/E ratio of 72.89, a PEG ratio of 3.28 and a beta of 0.53. The company has a quick ratio of 1.64, a current ratio of 4.75 and a debt-to-equity ratio of 93.21.

Polaris Renewable Energy (TSE:PIF) last announced its earnings results on Thursday, November 5th. The company reported C($0.48) earnings per share for the quarter. Polaris Renewable Energy had a return on equity of 1.73% and a net margin of 5.34%. The company had revenue of C$27.06 million during the quarter. During the same period in the previous year, the company posted ($0.02) earnings per share. Equities analysts predict that Polaris Renewable Energy Inc. will post 0.65 EPS for the current fiscal year.

Polaris Renewable Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 21st were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.60 annualized dividend and a yield of 4.3%. Polaris Renewable Energy’s dividend payout ratio is currently 315.79%.

Insider Buying and Selling

In other news, Director Marc Murnaghan acquired 2,000 shares of the firm’s stock in a transaction on Tuesday, September 15th. The shares were purchased at an average cost of C$14.05 per share, for a total transaction of C$28,100.00. Following the transaction, the director owned 4,000 shares of the company’s stock, valued at approximately C$56,200. This represents a 100.00% increase in their ownership of the stock. Insiders own 2.94% of the company’s stock.

Polaris Renewable Energy Company Profile

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).