Daniel M. Elkort Sells 4,100 Shares of Pattern Energy Group Inc. (PEGI) Stock
Pattern Energy Group Inc. (NASDAQ:PEGI) (TSE:PEG) VP Daniel M. Elkort sold 4,100 shares of the stock in a transaction on Monday, August 14th. The stock was sold at an average price of $24.08, for a total value of $98,728.00. Following the transaction, the vice president now owns 75,173 shares of the company’s stock, valued at $1,810,165.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Shares of Pattern Energy Group Inc. (NASDAQ:PEGI) opened at 24.12 on Thursday. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of 70.32 and a beta of 1.05. The stock has a 50 day moving average price of $24.35 and a 200-day moving average price of $22.15. Pattern Energy Group Inc. has a 52 week low of $18.68 and a 52 week high of $25.42.
Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last announced its quarterly earnings data on Tuesday, August 8th. The utilities provider reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.03. Pattern Energy Group had a return on equity of 1.05% and a net margin of 7.77%. The business had revenue of $107.76 million during the quarter, compared to the consensus estimate of $124.02 million. During the same period in the prior year, the company earned ($0.04) EPS. Pattern Energy Group’s revenue for the quarter was up 15.4% on a year-over-year basis. On average, equities research analysts forecast that Pattern Energy Group Inc. will post $0.29 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be given a dividend of $0.42 per share. This is an increase from Pattern Energy Group’s previous quarterly dividend of $0.42. This represents a $1.68 annualized dividend and a dividend yield of 6.97%. The ex-dividend date of this dividend is Thursday, September 28th. Pattern Energy Group’s dividend payout ratio is currently 506.08%.
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A number of institutional investors have recently modified their holdings of the company. Advisor Group Inc. boosted its position in shares of Pattern Energy Group by 31.0% in the second quarter. Advisor Group Inc. now owns 5,039 shares of the utilities provider’s stock worth $121,000 after buying an additional 1,193 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new position in shares of Pattern Energy Group during the first quarter worth about $115,000. US Bancorp DE boosted its position in shares of Pattern Energy Group by 24.4% in the first quarter. US Bancorp DE now owns 6,274 shares of the utilities provider’s stock worth $126,000 after buying an additional 1,231 shares during the last quarter. Turner Investments LLC purchased a new position in shares of Pattern Energy Group during the second quarter worth about $167,000. Finally, Winslow Evans & Crocker Inc. purchased a new position in shares of Pattern Energy Group during the second quarter worth about $177,000.
Several research analysts have issued reports on PEGI shares. Royal Bank Of Canada increased their price objective on Pattern Energy Group from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 20th. ValuEngine upgraded Pattern Energy Group from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research upgraded Pattern Energy Group from a “hold” rating to a “strong-buy” rating and set a $29.00 price objective for the company in a research note on Wednesday, June 28th. Desjardins reiterated a “buy” rating and set a $25.50 price objective on shares of Pattern Energy Group in a research note on Thursday, April 27th. Finally, Raymond James Financial, Inc. increased their price objective on Pattern Energy Group from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Thursday, June 22nd. Six investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Pattern Energy Group presently has a consensus rating of “Buy” and an average target price of $25.40.
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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