Media coverage about Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) has been trending somewhat positive on Wednesday, according to Accern Sentiment Analysis. Accern identifies negative and positive media coverage by analyzing more than twenty million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Pattern Energy Group earned a coverage optimism score of 0.11 on Accern’s scale. Accern also gave press coverage about the utilities provider an impact score of 47.417104062772 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the near term.
PEGI has been the topic of a number of analyst reports. Zacks Investment Research raised shares of Pattern Energy Group from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a report on Friday, August 25th. BMO Capital Markets reissued a “buy” rating and set a $28.50 target price on shares of Pattern Energy Group in a report on Friday, September 8th. Desjardins upped their price target on shares of Pattern Energy Group from $25.50 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, June 20th. J P Morgan Chase & Co reaffirmed a “neutral” rating and issued a $24.00 price target (up previously from $23.00) on shares of Pattern Energy Group in a report on Tuesday, June 20th. Finally, National Bank Financial upped their price target on shares of Pattern Energy Group from $27.00 to $34.50 and gave the stock an “outperform” rating in a report on Saturday, September 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Pattern Energy Group has a consensus rating of “Buy” and an average price target of $26.40.
Shares of Pattern Energy Group (PEGI) traded down 1.320% on Wednesday, reaching $24.295. 145,329 shares of the company traded hands. Pattern Energy Group has a 1-year low of $18.68 and a 1-year high of $26.56. The stock has a 50-day moving average price of $25.20 and a 200 day moving average price of $23.53. The firm has a market capitalization of $2.13 billion, a P/E ratio of 65.662 and a beta of 1.04.
Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last announced its quarterly earnings results on Tuesday, August 8th. The utilities provider reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.03. The company had revenue of $107.76 million for the quarter, compared to the consensus estimate of $124.02 million. Pattern Energy Group had a net margin of 7.77% and a return on equity of 1.05%. Pattern Energy Group’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.04) EPS. Analysts anticipate that Pattern Energy Group will post $0.31 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This is an increase from Pattern Energy Group’s previous quarterly dividend of $0.42. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.82%. Pattern Energy Group’s payout ratio is 509.11%.
In other news, VP Daniel M. Elkort sold 4,100 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $24.08, for a total value of $98,728.00. Following the sale, the vice president now directly owns 75,173 shares in the company, valued at approximately $1,810,165.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Esben W. Pedersen sold 2,400 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $23.99, for a total transaction of $57,576.00. Following the completion of the sale, the insider now owns 145,811 shares in the company, valued at $3,498,005.89. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,400 shares of company stock worth $253,840. Insiders own 1.60% of the company’s stock.
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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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