Pattern Energy Group Inc (NASDAQ:PEGI) (TSE:PEG) insider Esben W. Pedersen sold 1,200 shares of the business’s stock in a transaction on Thursday, January 10th. The stock was sold at an average price of $20.00, for a total transaction of $24,000.00. Following the transaction, the insider now directly owns 150,047 shares in the company, valued at approximately $3,000,940. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of NASDAQ:PEGI traded up $0.59 on Thursday, hitting $20.24. The stock had a trading volume of 799,300 shares, compared to its average volume of 1,299,357. The company has a market capitalization of $1.91 billion, a PE ratio of 106.53, a P/E/G ratio of 1.42 and a beta of 0.94. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.54 and a current ratio of 0.54. Pattern Energy Group Inc has a twelve month low of $16.58 and a twelve month high of $21.93.
Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last issued its quarterly earnings results on Monday, November 5th. The utilities provider reported ($0.13) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.09). The company had revenue of $118.39 million for the quarter, compared to analyst estimates of $117.22 million. Pattern Energy Group had a return on equity of 7.35% and a net margin of 30.81%. The firm’s quarterly revenue was up 28.6% on a year-over-year basis. During the same quarter last year, the company earned ($0.34) EPS. On average, analysts forecast that Pattern Energy Group Inc will post 1.42 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 31st. Investors of record on Monday, December 31st will be given a dividend of $0.422 per share. The ex-dividend date is Friday, December 28th. This represents a $1.69 annualized dividend and a yield of 8.34%. Pattern Energy Group’s dividend payout ratio (DPR) is 889.47%.
PEGI has been the topic of a number of research reports. Wells Fargo & Co reaffirmed a “buy” rating and set a $22.00 target price (up previously from $21.00) on shares of Pattern Energy Group in a research report on Monday, September 17th. Zacks Investment Research raised shares of Pattern Energy Group from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Wednesday, October 10th. BidaskClub raised shares of Pattern Energy Group from a “hold” rating to a “buy” rating in a research report on Tuesday, October 23rd. ValuEngine raised shares of Pattern Energy Group from a “strong sell” rating to a “sell” rating in a research report on Thursday, November 1st. Finally, Raymond James raised shares of Pattern Energy Group from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $20.00 to $22.50 in a research report on Tuesday, November 6th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Pattern Energy Group presently has an average rating of “Buy” and a consensus target price of $22.09.
A number of hedge funds and other institutional investors have recently modified their holdings of PEGI. Mirae Asset Global Investments Co. Ltd. acquired a new position in Pattern Energy Group during the 3rd quarter worth about $20,488,000. BlackRock Inc. lifted its position in Pattern Energy Group by 7.5% during the 2nd quarter. BlackRock Inc. now owns 6,600,386 shares of the utilities provider’s stock worth $123,757,000 after buying an additional 463,092 shares in the last quarter. Vanguard Group Inc. lifted its position in Pattern Energy Group by 5.8% during the 3rd quarter. Vanguard Group Inc. now owns 8,397,976 shares of the utilities provider’s stock worth $166,869,000 after buying an additional 460,066 shares in the last quarter. Vanguard Group Inc lifted its position in Pattern Energy Group by 5.8% during the 3rd quarter. Vanguard Group Inc now owns 8,397,976 shares of the utilities provider’s stock worth $166,869,000 after buying an additional 460,066 shares in the last quarter. Finally, Daiwa SB Investments Ltd. lifted its position in Pattern Energy Group by 73.3% during the 3rd quarter. Daiwa SB Investments Ltd. now owns 526,181 shares of the utilities provider’s stock worth $10,455,000 after buying an additional 222,499 shares in the last quarter. Institutional investors and hedge funds own 86.56% of the company’s stock.
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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