Pinnacle Renewable Holdings Inc (TSE:PL) to Issue $0.15 Quarterly Dividend

Pinnacle Renewable Holdings Inc (TSE:PL) declared a quarterly dividend on Tuesday, November 12th, Zacks reports. Shareholders of record on Friday, November 22nd will be given a dividend of 0.15 per share on Friday, December 6th. This represents a $0.60 dividend on an annualized basis and a yield of 6.67%. The ex-dividend date is Thursday, November 21st.

TSE:PL traded up C$0.18 during trading hours on Tuesday, reaching C$9.00. 40,640 shares of the stock were exchanged, compared to its average volume of 47,607. The company has a quick ratio of 0.46, a current ratio of 1.35 and a debt-to-equity ratio of 182.22. The firm has a 50 day simple moving average of C$7.32 and a 200-day simple moving average of C$9.54. Pinnacle Renewable has a 52 week low of C$5.98 and a 52 week high of C$13.53. The stock has a market capitalization of $265.07 million and a P/E ratio of 75.63.

Several brokerages recently issued reports on PL. CIBC cut their price target on Pinnacle Renewable from C$11.00 to C$10.00 in a report on Wednesday, October 23rd. Royal Bank of Canada cut their price target on Pinnacle Renewable from C$15.00 to C$13.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. National Bank Financial cut their price target on Pinnacle Renewable from C$15.50 to C$14.00 and set an “outperform” rating on the stock in a report on Thursday, November 14th. Finally, GMP Securities raised their price target on Pinnacle Renewable from C$13.00 to C$14.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Pinnacle Renewable presently has a consensus rating of “Buy” and an average target price of C$13.00.

About Pinnacle Renewable

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.

Further Reading: Profit margin is different from the revenue

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