National Bankshares Cuts Polaris Renewable Energy (TSE:PIF) Price Target to C$22.00

Polaris Renewable Energy (TSE:PIF - Free Report) had its price target trimmed by National Bankshares from C$23.00 to C$22.00 in a research report report published on Tuesday,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

PIF has been the topic of a number of other reports. Cormark increased their price objective on Polaris Renewable Energy from C$23.50 to C$25.00 in a report on Thursday, January 30th. Raymond James increased their price objective 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 Stock Down 2.0 %

TSE:PIF traded down C$0.25 during mid-day trading on Tuesday, hitting C$12.42. 32,399 shares of the company's stock traded hands, compared to its average volume of 32,761. The company has a fifty day moving average of C$13.03 and a 200 day moving average of C$12.61. Polaris Renewable Energy has a twelve month low of C$11.08 and a twelve month high of C$13.85. The company has a market capitalization of C$184.58 million, a P/E ratio of 25.73, a P/E/G ratio of 3.28 and a beta of 0.97. The company has a debt-to-equity ratio of 57.48, a quick ratio of 1.64 and a current ratio of 1.82.

Polaris Renewable Energy Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 28th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.83%. The ex-dividend date of this dividend is Friday, February 14th. Polaris Renewable Energy's dividend payout ratio is presently 169.88%.

Insider Transactions at Polaris Renewable Energy

In other news, Director Marc Murnaghan sold 2,301 shares of the company's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of C$12.52, for a total value of C$28,808.52. Company insiders own 2.94% of the company's stock.

About Polaris Renewable Energy

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.