Pattern Energy Group Inc. (NASDAQ:PEGI) (TSE:PEG) VP Christopher M. Shugart sold 500 shares of the stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $23.09, for a total value of $11,545.00. Following the completion of the transaction, the vice president now directly owns 60,518 shares in the company, valued at approximately $1,397,360.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Pattern Energy Group Inc. (NASDAQ:PEGI) traded down $0.66 on Friday, reaching $20.91. The company had a trading volume of 1,450,400 shares, compared to its average volume of 782,355. The company has a market cap of $2,062.89, a P/E ratio of 2,157.00, a PEG ratio of 7.14 and a beta of 1.02. Pattern Energy Group Inc. has a 52 week low of $18.68 and a 52 week high of $26.56. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.03 and a quick ratio of 1.03.
Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last issued its earnings results on Tuesday, August 8th. The utilities provider reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.03. The company had revenue of $107.76 million for the quarter, compared to the consensus estimate of $124.02 million. Pattern Energy Group had a return on equity of 0.06% and a net margin of 1.01%. The firm’s quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.04) EPS. equities research analysts predict that Pattern Energy Group Inc. will post 0.25 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, December 29th will be paid a dividend of $0.422 per share. This represents a $1.69 annualized dividend and a yield of 8.07%. The ex-dividend date is Thursday, December 28th. This is an increase from Pattern Energy Group’s previous quarterly dividend of $0.42. Pattern Energy Group’s dividend payout ratio (DPR) is 4,201.05%.
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A number of research analysts have weighed in on the company. National Bank Financial raised their price objective on Pattern Energy Group from $27.00 to $34.50 and gave the stock an “outperform” rating in a research note on Saturday, September 23rd. Zacks Investment Research downgraded Pattern Energy Group from a “buy” rating to a “hold” rating in a research note on Wednesday, September 27th. BMO Capital Markets reaffirmed a “buy” rating and issued a $28.50 price objective on shares of Pattern Energy Group in a research note on Friday, September 8th. ValuEngine raised Pattern Energy Group from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, Williams Capital assumed coverage on Pattern Energy Group in a research note on Monday, October 16th. They issued a “buy” rating and a $28.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $25.81.
Institutional investors and hedge funds have recently modified their holdings of the stock. UBS Asset Management Americas Inc. grew its holdings in Pattern Energy Group by 139.1% during the 1st quarter. UBS Asset Management Americas Inc. now owns 38,967 shares of the utilities provider’s stock valued at $784,000 after buying an additional 22,667 shares in the last quarter. Parametric Portfolio Associates LLC grew its holdings in Pattern Energy Group by 88.3% during the 1st quarter. Parametric Portfolio Associates LLC now owns 106,996 shares of the utilities provider’s stock valued at $2,154,000 after buying an additional 50,173 shares in the last quarter. FMR LLC grew its holdings in Pattern Energy Group by 6.8% during the 1st quarter. FMR LLC now owns 2,442,853 shares of the utilities provider’s stock valued at $49,175,000 after buying an additional 155,900 shares in the last quarter. Teachers Advisors LLC grew its holdings in Pattern Energy Group by 1.8% during the 1st quarter. Teachers Advisors LLC now owns 126,944 shares of the utilities provider’s stock valued at $2,555,000 after buying an additional 2,300 shares in the last quarter. Finally, TIAA CREF Investment Management LLC grew its holdings in Pattern Energy Group by 23.9% during the 1st quarter. TIAA CREF Investment Management LLC now owns 335,719 shares of the utilities provider’s stock valued at $6,758,000 after buying an additional 64,783 shares in the last quarter. 86.25% of the stock is currently owned by institutional investors.
Pattern Energy Group Company Profile
Pattern Energy Group Inc is an independent power company focused on owning and operating power projects. The Company holds interests in over 18 wind power projects located in the United States, Canada and Chile with total capacity of over 2,644 megawatts (MW). Each of its projects has contracted to sell its output pursuant to a power sale agreement.
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