Pattern Energy Group Receives Consensus Recommendation of “Buy” from Analysts (NASDAQ:PEGI)
Pattern Energy Group (NASDAQ:PEGI) has been given a consensus rating of “Buy” by the eight ratings firms that are presently covering the stock, Analyst Ratings Network.com reports. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $32.92.
Pattern Energy Group (NASDAQ:PEGI) opened at 30.09 on Monday. 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. and its 200-day moving average is $29.2. The company’s market cap is $1.868 billion.
Pattern Energy Group (NASDAQ:PEGI) last released its earnings data on Tuesday, August 5th. The company reported $0.20 EPS for the quarter, missing the Thomson Reuters 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. Analysts expect that Pattern Energy Group will post $0.44 EPS for the current fiscal year.
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 4.36%. The ex-dividend date is Friday, September 26th. This is an increase from Pattern Energy Group’s previous quarterly dividend of $0.32.
PEGI has been the subject of a number of recent research reports. Analysts at CIBC raised their price target on shares of Pattern Energy Group from $0.50 to $34.50 in a research note on Thursday. They now have an “outperform” rating on the stock. Separately, 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. Finally, 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.
Pattern Energy Group Inc is an independent power company focused on owning and operating power projects.
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