Pattern Energy Group Inc. (NASDAQ:PEGI) insider Esben W. Pedersen sold 1,200 shares of the business’s stock in a transaction on Monday, November 7th. The shares were sold at an average price of $23.01, for a total transaction of $27,612.00. Following the sale, the insider now directly owns 127,053 shares in the company, valued at $2,923,489.53. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Shares of Pattern Energy Group Inc. (NASDAQ:PEGI) opened at 19.05 on Thursday. The company has a 50-day moving average of $22.18 and a 200-day moving average of $22.53. Pattern Energy Group Inc. has a one year low of $14.56 and a one year high of $25.13. The company’s market capitalization is $1.45 billion.

Pattern Energy Group (NASDAQ:PEGI) last announced its quarterly earnings results on Monday, November 7th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. The company had revenue of $91.90 million for the quarter, compared to analysts’ expectations of $98.36 million. Pattern Energy Group had a negative net margin of 7.83% and a positive return on equity of 0.16%. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.40) earnings per share. On average, analysts anticipate that Pattern Energy Group Inc. will post ($0.36) earnings per share for the current year.

Insider Buying and Selling by Quarter for Pattern Energy Group (NASDAQ:PEGI)

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 31st. Investors of record on Friday, December 30th will be issued a dividend of $0.408 per share. This represents a $1.63 dividend on an annualized basis and a dividend yield of 8.57%. This is a positive change from Pattern Energy Group’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Wednesday, December 28th. Pattern Energy Group’s dividend payout ratio (DPR) is presently -421.05%.

Several large investors have recently modified their holdings of the company. California State Teachers Retirement System raised its stake in shares of Pattern Energy Group by 16.0% in the third quarter. California State Teachers Retirement System now owns 140,358 shares of the company’s stock worth $3,157,000 after buying an additional 19,400 shares during the last quarter. RobecoSam USA Inc. raised its stake in shares of Pattern Energy Group by 16.5% in the third quarter. RobecoSam USA Inc. now owns 13,400 shares of the company’s stock worth $301,000 after buying an additional 1,900 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of Pattern Energy Group by 18.5% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,784,897 shares of the company’s stock worth $40,142,000 after buying an additional 278,977 shares during the last quarter. BlackRock Group LTD raised its stake in shares of Pattern Energy Group by 7.3% in the third quarter. BlackRock Group LTD now owns 221,119 shares of the company’s stock worth $4,974,000 after buying an additional 14,986 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Pattern Energy Group by 12.8% in the third quarter. Rhumbline Advisers now owns 66,162 shares of the company’s stock worth $1,488,000 after buying an additional 7,511 shares during the last quarter.

PEGI has been the topic of several recent analyst reports. Wells Fargo & Co. reissued a “buy” rating on shares of Pattern Energy Group in a research note on Thursday, August 18th. RBC Capital Markets reaffirmed an “outperform” rating and issued a $35.00 price target on shares of Pattern Energy Group in a research note on Tuesday. Zacks Investment Research downgraded shares of Pattern Energy Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Finally, Oppenheimer Holdings Inc. began coverage on shares of Pattern Energy Group in a research note on Thursday, September 8th. They issued an “outperform” rating and a $36.00 price target on the stock. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Pattern Energy Group presently has a consensus rating of “Buy” and an average price target of $27.44.

Pattern Energy Group Company Profile

Pattern Energy Group Inc (Pattern Energy) is an independent power company focused on owning and operating power projects. The Company holds interests in over 16 wind power projects located in the United States, Canada and Chile with total capacity of over 2,280 megawatts (MW). Each of its projects has contracted to sell its output pursuant to a power sale agreement.

5 Day Chart for NASDAQ:PEGI

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