Pattern Energy Group Inc (PEGI) Plans Quarterly Dividend of $0.31
Pattern Energy Group (NASDAQ:PEGI) declared a quarterly dividend on Friday, February 28th, Stock Ratings Network.com reports. Stockholders of record on Monday, March 31st will be given a dividend of 0.3125 per share on Wednesday, April 30th. This represents a $1.25 dividend on an annualized basis and a yield of 4.44%.
A number of analysts have recently weighed in on PEGI shares. Analysts at Raymond James initiated coverage on shares of Pattern Energy Group in a research note on Thursday, January 30th. They set an “outperform” rating and a $32.00 price target on the stock. On the ratings front, analysts at RBC Capital raised their price target on shares of Pattern Energy Group from $33.00 to $34.00 in a research note on Tuesday, January 14th. Finally, analysts at Morgan Stanley downgraded shares of Pattern Energy Group from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, January 7th. They now have a $26.50 price target on the stock, down previously from $31.00. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Pattern Energy Group has a consensus rating of “Buy” and an average price target of $29.75.
Pattern Energy Group (NASDAQ:PEGI) opened at 28.14 on Friday. Pattern Energy Group has a 52 week low of $22.26 and a 52 week high of $31.79. The stock’s 50-day moving average is $27.80 and its 200-day moving average is $26.08. The company has a market cap of $999.8 million and a price-to-earnings ratio of 35.64.
Pattern Energy Group (NASDAQ:PEGI) last issued its quarterly earnings data on Friday, February 28th. The company reported ($0.17) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.19) by $0.02. The company had revenue of $41.77 million for the quarter, compared to the consensus estimate of $53.96 million. On average, analysts predict that Pattern Energy Group will post $0.34 earnings per share for the current fiscal year.
Pattern Energy Group Inc is an independent power company focused on owning and operating power projects.
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