Pattern Energy Group PT Raised to $34.50 at CIBC (PEGI)
Research analysts at CIBC raised their price target on shares of Pattern Energy Group (NASDAQ:PEGI) from $0.50 to $34.50 in a report released on Thursday. The firm currently has an “outperform” rating on the stock. CIBC’s price target points to a potential upside of 12.38% from the company’s current price.
A number of other firms have also recently commented on PEGI. Analysts at Bank of America downgraded shares of Pattern Energy Group from a “buy” rating to a “neutral” rating in a research note on Wednesday. Separately, 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. Finally, 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. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $32.92.
Shares of Pattern Energy Group (NASDAQ:PEGI) traded down 0.78% on Thursday, hitting $30.46. The stock had a trading volume of 66,802 shares. Pattern Energy Group has a 52 week low of $22.26 and a 52 week high of $34.51. The stock has a 50-day moving average of $32.58 and a 200-day moving average of $29.2. The company’s market cap is $1.891 billion.
Pattern Energy Group (NASDAQ:PEGI) last announced its earnings results on Tuesday, August 5th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by $0.05. The company had revenue of $66.05 million for the quarter, compared to the consensus estimate of $65.60 million. On average, analysts predict that Pattern Energy Group will post $0.44 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, October 30th. Stockholders 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 4.27%.
Pattern Energy Group Inc is an independent power company focused on owning and operating power projects.
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