Pinnacle Renewable (TSE:PL) Price Target Lowered to C$14.00 at CIBC

Pinnacle Renewable (TSE:PL) had its price target reduced by CIBC from C$14.50 to C$14.00 in a report published on Wednesday, BayStreet.CA reports.

Separately, Royal Bank of Canada cut their price objective on Pinnacle Renewable from C$16.00 to C$15.00 and set an outperform rating on the stock in a report on Friday, May 10th.

Shares of TSE:PL traded down C$0.11 during trading on Wednesday, reaching C$9.75. The stock had a trading volume of 3,470 shares, compared to its average volume of 44,003. The stock has a fifty day moving average of C$9.86. The company has a market cap of $338.00 million and a PE ratio of 41.43. The company has a current ratio of 1.11, a quick ratio of 0.56 and a debt-to-equity ratio of 171.27. Pinnacle Renewable has a 1-year low of C$8.53 and a 1-year high of C$17.00.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Friday, August 23rd will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $0.60 annualized dividend and a yield of 6.15%. Pinnacle Renewable’s payout ratio is 163.87%.

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.

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