Pattern Energy Group Inc. (PEGI) Insider Esben W. Pedersen Sells 1,200 Shares of Stock
Pattern Energy Group Inc. (NASDAQ:PEGI) (TSE:PEG) insider Esben W. Pedersen sold 1,200 shares of Pattern Energy Group stock in a transaction on Friday, September 1st. The stock was sold at an average price of $25.10, for a total value of $30,120.00. Following the completion of the sale, the insider now directly owns 148,211 shares of the company’s stock, valued at approximately $3,720,096.10. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Shares of Pattern Energy Group Inc. (NASDAQ PEGI) traded down 0.16% during mid-day trading on Friday, hitting $25.08. The company had a trading volume of 370,826 shares. Pattern Energy Group Inc. has a 1-year low of $18.68 and a 1-year high of $25.42. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of 73.12 and a beta of 1.05. The company has a 50-day moving average price of $24.62 and a 200-day moving average price of $22.56.
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, topping the Zacks’ consensus estimate of $0.13 by $0.03. The company had revenue of $107.76 million during the quarter, compared to analyst estimates of $124.02 million. Pattern Energy Group had a return on equity of 1.05% and a net margin of 7.77%. The firm’s quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.04) EPS. On average, equities analysts anticipate that Pattern Energy Group Inc. will post $0.36 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be paid a $0.42 dividend. This is a positive change from Pattern Energy Group’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.68 dividend on an annualized basis and a yield of 6.70%. Pattern Energy Group’s dividend payout ratio (DPR) is 506.08%.
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A number of analysts have commented on PEGI shares. Royal Bank Of Canada reissued a “buy” rating and issued a $24.00 target price on shares of Pattern Energy Group in a report on Tuesday, May 9th. ValuEngine raised Pattern Energy Group from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. J P Morgan Chase & Co reissued a “neutral” rating and issued a $24.00 target price (up previously from $23.00) on shares of Pattern Energy Group in a report on Tuesday, June 20th. Desjardins lifted their target price on Pattern Energy Group from $25.50 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, June 20th. Finally, Raymond James Financial, Inc. lifted their target price on Pattern Energy Group from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Thursday, June 22nd. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Pattern Energy Group presently has an average rating of “Buy” and an average target price of $25.30.
A number of institutional investors have recently modified their holdings of PEGI. Advisor Group Inc. raised 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 period. 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 raised 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 period. 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. Institutional investors own 94.72% of the company’s stock.
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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