Somewhat Positive Press Coverage Somewhat Unlikely to Impact Pattern Energy Group (PEGI) Share Price
Media headlines about Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) have been trending somewhat positive on Wednesday, according to Accern Sentiment. The research group scores the sentiment of media coverage by monitoring more than 20 million news and blog sources in real time. Accern ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. Pattern Energy Group earned a news sentiment score of 0.15 on Accern’s scale. Accern also gave media stories about the utilities provider an impact score of 45.6187363770732 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
Here are some of the news articles that may have effected Accern Sentiment Analysis’s rankings:
- Numbers in Review for Pattern Energy Group Inc (PEGI) – Berry Recorder (berryrecorder.com)
- Duke Energy Requests Rate Hike to Boost Service Reliability – Nasdaq (nasdaq.com)
- Pattern Energy Group Inc. (PEGI) Lifted to “Buy” at Zacks Investment Research (americanbankingnews.com)
- dynaCERT Inc : Today’s Research Reports on dynaCERT Inc., Pattern Energy Group, Greenpower Motor Company and EnWave Corporation (4-traders.com)
Shares of Pattern Energy Group (NASDAQ:PEGI) opened at 24.96 on Wednesday. Pattern Energy Group has a 1-year low of $18.68 and a 1-year high of $25.42. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of 72.77 and a beta of 1.05. The company’s 50-day moving average is $24.47 and its 200 day moving average is $22.38.
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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. The firm 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%. The business’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.04) earnings per share. On average, equities research analysts expect that Pattern Energy Group will post $0.36 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 6.73%. This is an increase from Pattern Energy Group’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Thursday, September 28th. Pattern Energy Group’s dividend payout ratio is presently 506.08%.
A number of research firms have weighed in on PEGI. BidaskClub cut shares of Pattern Energy Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 10th. Zacks Investment Research raised shares of Pattern Energy Group from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research report on Friday, August 25th. ValuEngine raised shares of Pattern Energy Group from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Royal Bank Of Canada upped their price objective on shares of Pattern Energy Group from $24.00 to $25.00 and gave the company an “outperform” rating in a research report on Tuesday, June 20th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $28.00 price objective on shares of Pattern Energy Group in a research report on Wednesday, August 2nd. Five research 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’s stock. The company presently has a consensus rating of “Buy” and an average price target of $25.30.
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In other Pattern Energy Group news, VP Daniel M. Elkort sold 4,100 shares of the stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $24.08, for a total transaction of $98,728.00. Following the sale, the vice president now directly owns 75,173 shares in the company, valued at $1,810,165.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Esben W. Pedersen sold 1,200 shares of the stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $23.00, for a total transaction of $27,600.00. Following the sale, the insider now owns 144,867 shares in the company, valued at $3,331,941. The disclosure for this sale can be found here. Insiders have sold 8,709,200 shares of company stock worth $190,838,434 over the last quarter. Corporate insiders own 1.60% 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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