Pinnacle Renewable Holdings Inc (TSE:PL) Declares Quarterly Dividend of $0.15

Pinnacle Renewable Holdings Inc (TSE:PL) announced a quarterly dividend on Tuesday, November 12th, Zacks reports. Stockholders of record on Friday, November 22nd will be paid a dividend of 0.15 per share on Friday, December 6th. This represents a $0.60 annualized dividend and a dividend yield of 6.69%. The ex-dividend date of this dividend is Thursday, November 21st.

PL traded up C$0.15 during trading hours on Tuesday, hitting C$8.97. The stock had a trading volume of 43,745 shares, compared to its average volume of 47,646. The company’s fifty day simple moving average is C$7.32 and its 200 day simple moving average is C$9.54. Pinnacle Renewable has a 1 year low of C$5.98 and a 1 year high of C$13.53. The stock has a market cap of $265.07 million and a PE ratio of 75.63. The company has a quick ratio of 0.46, a current ratio of 1.35 and a debt-to-equity ratio of 182.22.

Several equities research analysts recently weighed in on the company. CIBC decreased their price objective on Pinnacle Renewable from C$11.00 to C$10.00 in a report on Wednesday, October 23rd. GMP Securities lifted their price objective 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. Royal Bank of Canada decreased their price objective on Pinnacle Renewable from C$15.00 to C$13.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. Finally, National Bank Financial decreased their price objective on Pinnacle Renewable from C$15.50 to C$14.00 and set an “outperform” rating for the company in a report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of C$13.00.

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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