Pattern Energy Group Director Buys $30,890 in Stock (PEGI)
Pattern Energy Group (NASDAQ:PEGI) Director Patricia S. Bellinger purchased 1,000 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was purchased at an average price of $30.89 per share, with a total value of $30,890.00. Following the purchase, the director now directly owns 3,847 shares of the company’s stock, valued at approximately $118,834. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Pattern Energy Group (NASDAQ:PEGI) traded up 1.10% on Monday, hitting $31.18. The stock had a trading volume of 242,961 shares. Pattern Energy Group has a 52 week low of $22.26 and a 52 week high of $34.51. The stock’s 50-day moving average is $32.21 and its 200-day moving average is $29.39. The company’s market cap is $1.450 billion.
Pattern Energy Group (NASDAQ:PEGI) last posted its quarterly earnings results 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 $0.26 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, October 30th. Shareholders 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 4.25%. The ex-dividend date is Friday, September 26th. This is a positive change from Pattern Energy Group’s previous quarterly dividend of $0.32.
A number of analysts have recently weighed in on PEGI shares. 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, August 7th. 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, August 6th. 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. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $32.92.
Pattern Energy Group Inc is an independent power company focused on owning and operating power projects.
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