Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) released its quarterly earnings data on Thursday. The utilities provider reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $1.17, Fidelity Earnings reports. The business had revenue of $111.66 million for the quarter, compared to analysts’ expectations of $137.25 million. Pattern Energy Group had a positive return on equity of 0.34% and a negative net margin of 4.35%. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.06 EPS.
PEGI traded down $0.43 during mid-day trading on Friday, reaching $18.16. 6,242 shares of the company traded hands, compared to its average volume of 724,702. The firm has a market cap of $1.75 billion, a PE ratio of 97.05, a P/E/G ratio of 2.50 and a beta of 0.96. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.80. Pattern Energy Group has a 52-week low of $18.12 and a 52-week high of $18.61.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 31st. Shareholders of record on Friday, June 29th will be paid a dividend of $0.422 per share. The ex-dividend date is Thursday, June 28th. This represents a $1.69 dividend on an annualized basis and a yield of 9.30%. Pattern Energy Group’s dividend payout ratio is presently 889.47%.
In related news, Director Douglas G. Hall bought 5,000 shares of the firm’s stock in a transaction on Tuesday, March 6th. The stock was acquired at an average cost of $17.08 per share, for a total transaction of $85,400.00. Following the purchase, the director now owns 39,982 shares in the company, valued at $682,892.56. The acquisition was disclosed in a filing with the SEC, which is available through this link. 1.70% of the stock is currently owned by insiders.
Several equities analysts recently issued reports on PEGI shares. Guggenheim set a $25.00 price objective on Pattern Energy Group and gave the company a “buy” rating in a research report on Friday, March 2nd. Desjardins reaffirmed a “buy” rating and issued a $26.50 price objective on shares of Pattern Energy Group in a research report on Tuesday, February 27th. BMO Capital Markets reaffirmed a “buy” rating and issued a $26.00 price objective on shares of Pattern Energy Group in a research report on Tuesday, February 6th. Goldman Sachs set a $22.00 price objective on Pattern Energy Group and gave the company a “buy” rating in a research report on Saturday, March 17th. Finally, Zacks Investment Research raised Pattern Energy Group from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company’s stock. Pattern Energy Group presently has an average rating of “Hold” and an average target price of $23.35.
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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