Pattern Energy Group (PEGI) Releases Quarterly Earnings Results
Pattern Energy Group (NASDAQ:PEGI) announced its earnings results on Tuesday. The company reported $0.20 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.25 by $0.05, StockRatingsNetwork.com reports. The company had revenue of $66.05 million for the quarter, compared to the consensus estimate of $65.60 million.
Several analysts have recently commented on the stock. Analysts at Morgan Stanley raised their price target on shares of Pattern Energy Group to $35.00 in a research note on Tuesday, July 22nd. They now have an “equal weight” rating on the stock. On a related note, analysts at Raymond James raised their price target on shares of Pattern Energy Group from $32.00 to $33.00 in a research note on Thursday, July 10th. Finally, analysts at Raymond James downgraded shares of Pattern Energy Group from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 9th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $32.83.
Shares of Pattern Energy Group (NASDAQ:PEGI) opened at 31.285 on Tuesday. Pattern Energy Group has a one year low of $22.26 and a one year high of $34.51. The stock’s 50-day moving average is $32.56 and its 200-day moving average is $29.22. The company has a market cap of $1.117 billion and a price-to-earnings ratio of 471.34.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, October 30th. Investors of record on Tuesday, September 30th will be paid a dividend of $0.328 per share. This represents a $1.31 annualized dividend and a dividend yield of 4.15%.
Pattern Energy Group Inc is an independent power company focused on owning and operating power projects.
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