Insider Selling: Daniel M. Elkort Sells 5,354 Shares of Pattern Energy Group Stock (PEGI)
Pattern Energy Group (NASDAQ:PEGI) VP Daniel M. Elkort sold 5,354 shares of the company’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $29.25, for a total value of $156,604.50. Following the transaction, the vice president now directly owns 28,957 shares of the company’s stock, valued at approximately $846,992. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Pattern Energy Group (NASDAQ:PEGI) traded down 0.58% on Thursday, hitting $29.11. The stock had a trading volume of 567,854 shares. Pattern Energy Group has a 52 week low of $22.26 and a 52 week high of $31.79. The stock has a 50-day moving average of $27.68 and a 200-day moving average of $27.18. The company has a market cap of $1.039 billion and a price-to-earnings ratio of 437.01.
Pattern Energy Group (NASDAQ:PEGI) last announced its earnings results on Friday, May 2nd. The company reported ($0.20) earnings per share for the quarter, missing the analysts’ consensus estimate of $0.96 by $1.16. The company had revenue of $49.50 billion for the quarter, compared to the consensus estimate of $57.18 billion. On average, analysts predict that Pattern Energy Group will post $0.42 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, July 30th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.322 per share. This represents a $1.29 annualized dividend and a dividend yield of 4.40%. The ex-dividend date is Thursday, June 26th. This is a boost from Pattern Energy Group’s previous quarterly dividend of $0.31.
A number of research firms have recently commented on PEGI. Analysts at CIBC initiated coverage on shares of Pattern Energy Group in a research note on Thursday, May 1st. They set an “outperform” rating and a $31.00 price target on the stock. Analysts at Morgan Stanley reiterated an “equal weight” rating on shares of Pattern Energy Group in a research note on Monday, March 3rd. They now have a $31.00 price target on the stock. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Pattern Energy Group presently has a consensus rating of “Buy” and an average target price of $30.90.
Pattern Energy Group Inc is an independent power company focused on owning and operating power projects.
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