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Opinions Jason Mann
Polaris InfrastructurePIF.TOHOLDNov 13, 2020
It is the middle of the pack. The price momentum has held him back. Valuation is decent at 5x EBITA and 8x PE. The 5.5% yield is healthy with a reasonable payout ratio of 65%. Needs a little more positive fund flow before taking a position.
$13.91
Stock price when the opinion was issued
$14.77
As of Jun 15, 2026. Market Open.
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TOP PICK
A growing producer in green electricity in Latin America. They do geothermal, river and solar energy. The green sector has been under pressure the past year, but these shares are super cheap. Pays a 6.65% dividend and trades at 13X PE. There's 70% upside. Great management, reinvesting their cash flow into a nice pipeline with occasional M&A.
(Analysts’ price target is $20.90)
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TOP PICK
Now called Polaris Renewable Energy. Pays a 6.4% dividend and trades at a 15x PE, a discount to peers.
(Analysts’ price target is $25.50)Alex RuusOwned
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PARTIAL BUY
Allan Tong’s Discover Picks Companies like Polaris trade at high PEs (102.44x), but that’s par for the course. Another caveat is that PIF is a small-cap of only $344 million, so it can be vulnerable to market mood swings—and we’ve had no shortage of that. PIF pays a steady dividend of 5%, which investors can collect as they wait. Given PIF’s caveats, consider this stock more a risky or partial buy. Read 3 Solid Infrastructure Stocks for our full analysis.
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PAST TOP PICK
(A Top Pick Oct 06/21, Down 7%) Great green business. Slow, steady grower. Trades at half the valuation of other independents. Table-pounding buy. Only a matter of time before it goes up or gets bought at a serious premium.
Alex RuusOwned
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Premium contentPAST TOP PICK
(A Top Pick Apr 28/22, Down 2.9%)Stockchase Research Editor: Michael O'Reilly Our PAST TOP PICK with PIF has triggered its stop at $18.50. To remain disciplined, we recommend covering the position at this time. This will result in a net investment gain of 5%, when combined with the previous buy recommendations.
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Premium contentPAST TOP PICK
BUY ON WEAKNESS
Renegotiated main contract, announced a solar acquisition. Diversified cashflows. Excellent job navigating volatility. Small cap is out of favour. A stable and resilient business. A buy below $20. Likes it long term.
Varun AnandOwned
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Premium contentTOP PICK
Stockchase Research Editor: Michael O'Reilly We again reiterate PIF, a Canadian $366 million market cap infrastructure developer of renewable energy projects in Latin America, as a TOP PICK. It stumbled after last earnings report showed an unexpected loss to the company, but pandemic delays can easily account for that. The company announced it is considering expansion of the hydro project in Ecuador and is moving forward with a solar project in Panama, which will be funded entirely with cash on hand. We recommend trailing up the stop from $15.50 to $16.00, looking to achieve $30 -- upside potential over 55%. Yield 3.2% (Analysts’ price target is $30.00)
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Premium contentPAST TOP PICK
PAST TOP PICK
(A Top Pick Feb 04/21, Down 26%) Frustrating. Very positive catalysts over the past year, but problem is that it's a small-cap, renewable with EM exposure. No fundamental issues, selloff is driven by market rotation and sentiment. Buying on pullbacks. Focus on long-term opportunity.
Varun AnandOwned
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Premium contentTOP PICK
Stockchase Research Editor: Michael O’Reilly This Canadian $366 million market cap infrastructure developer of renewable energy projects in Latin America is again reiterated as a TOP PICK. It pays a nice dividend backed by a payout ratio of 35% of cash flow. It trades at 9x earnings, compared to peers at 12x and is valued just above book value. We continue to recommend a stop loss at $14, looking to achieve $22 -- upside potential over 45%. Yield 5.1% (Analysts’ price target is $28.00)
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BUY ON WEAKNESS
Sentiment on renewables has taken a nosedive. Number of projects likely to be consummated in next 3-6 months, including acquisitions. Nicaragua contract extended. Valuation steep discount to peers. Will see increased M&A activity or an increased payout ratio by jacking up dividend.
Varun AnandOwned
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