Pinnacle Renewable Holdings Inc (PL) Announces Quarterly Dividend of $0.15

Pinnacle Renewable Holdings Inc (TSE:PL) announced a quarterly dividend on Wednesday, May 8th, Zacks reports. Stockholders of record on Friday, May 17th will be paid a dividend of 0.15 per share on Tuesday, May 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.59%. The ex-dividend date of this dividend is Thursday, May 16th.

TSE:PL traded down C$0.48 during mid-day trading on Friday, reaching C$10.74. The stock had a trading volume of 57,400 shares, compared to its average volume of 57,387. The company has a market capitalization of $395.39 million and a price-to-earnings ratio of 202.64. Pinnacle Renewable has a 1-year low of C$8.53 and a 1-year high of C$17.00. The company has a debt-to-equity ratio of 151.42, a quick ratio of 0.80 and a current ratio of 1.19.

Pinnacle Renewable (TSE:PL) last posted its quarterly earnings results on Thursday, February 21st. The company reported C$0.22 EPS for the quarter, topping the Zacks’ consensus estimate of C$0.09 by C$0.13. The firm had revenue of C$103.73 million during the quarter, compared to analyst estimates of C$91.60 million. On average, equities research analysts forecast that Pinnacle Renewable will post 0.940000001551155 EPS for the current fiscal year.

A number of research firms recently commented on PL. National Bank Financial downgraded Pinnacle Renewable from an “outperform overweight” rating to a “sector perform overweight” rating and decreased their price target for the stock from C$17.00 to C$13.50 in a research note on Tuesday, February 12th. Royal Bank of Canada decreased their price target on Pinnacle Renewable from C$16.00 to C$15.00 and set an “outperform” rating for the company in a research note on Friday. BMO Capital Markets decreased their price target on Pinnacle Renewable from C$16.00 to C$14.00 and set an “outperform” rating for the company in a research note on Thursday, February 14th. Finally, CIBC decreased their target price on Pinnacle Renewable from C$17.00 to C$14.00 in a research note on Thursday, February 14th.

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Pinnacle Renewable Company Profile

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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