Pattern Energy Group Inc (NASDAQ:PEGI) (TSE:PEG) insider Esben W. Pedersen sold 1,200 shares of the firm’s stock in a transaction on Tuesday, November 6th. The stock was sold at an average price of $20.00, for a total value of $24,000.00. Following the completion of the transaction, the insider now owns 156,627 shares of the company’s stock, valued at approximately $3,132,540. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
NASDAQ PEGI opened at $20.55 on Friday. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of 12.72, a P/E/G ratio of 0.45 and a beta of 1.07. Pattern Energy Group Inc has a fifty-two week low of $16.58 and a fifty-two week high of $22.79. The company has a quick ratio of 0.91, a current ratio of 0.54 and a debt-to-equity ratio of 0.97.
Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last released its quarterly earnings data on Monday, November 5th. The utilities provider reported ($0.13) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.09). The company had revenue of $118.39 million for the quarter, compared to analysts’ expectations of $117.22 million. Pattern Energy Group had a net margin of 30.81% and a return on equity of 7.35%. The business’s quarterly revenue was up 28.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.34) EPS. Analysts forecast that Pattern Energy Group Inc will post 1.57 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 31st. Shareholders of record on Monday, December 31st will be paid a dividend of $0.422 per share. The ex-dividend date is Friday, December 28th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 8.21%. Pattern Energy Group’s payout ratio is currently 889.47%.
A number of equities analysts recently issued reports on the company. Wells Fargo & Co restated a “buy” rating and issued a $22.00 target price (up previously from $21.00) on shares of Pattern Energy Group in a research note on Monday, September 17th. Bank of America lowered Pattern Energy Group from a “neutral” rating to an “underperform” rating in a research note on Friday, July 13th. National Bank Financial reduced their target price on Pattern Energy Group from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Friday, July 27th. BidaskClub upgraded Pattern Energy Group from a “hold” rating to a “buy” rating in a research note on Tuesday, October 23rd. Finally, Zacks Investment Research lowered Pattern Energy Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 19th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. Pattern Energy Group has an average rating of “Hold” and a consensus price target of $22.42.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PEGI. Chicago Partners Investment Group LLC raised its stake in shares of Pattern Energy Group by 116.0% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 5,677 shares of the utilities provider’s stock valued at $106,000 after buying an additional 3,049 shares during the last quarter. Macquarie Group Ltd. purchased a new position in shares of Pattern Energy Group during the 2nd quarter valued at about $124,000. CAPROCK Group Inc. purchased a new position in shares of Pattern Energy Group during the 3rd quarter valued at about $204,000. Kayne Anderson Capital Advisors LP purchased a new position in shares of Pattern Energy Group during the 3rd quarter valued at about $228,000. Finally, Xact Kapitalforvaltning AB raised its stake in shares of Pattern Energy Group by 28.1% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 16,846 shares of the utilities provider’s stock valued at $316,000 after buying an additional 3,700 shares during the last quarter. Institutional investors and hedge funds own 90.18% of the company’s stock.
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About Pattern Energy Group
Pattern Energy Group Inc, an independent power company, focuses on the construction, ownership, and operation of various power projects in the United States, Canada, and Chile. It holds interests in various wind and solar power projects. The company sells electricity and renewable energy credits primarily to local utilities and local liquid independent system organizations markets.
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