Pattern Energy Group Director Patricia S. Bellinger Purchases 1,000 Shares (PEGI)
Pattern Energy Group (NASDAQ:PEGI) Director Patricia S. Bellinger bought 1,000 shares of Pattern Energy Group stock in a transaction dated Friday, August 15th. The shares were purchased at an average cost of $30.89 per share, with a total value of $30,890.00. Following the completion of the transaction, the director now directly owns 3,847 shares in the company, valued at approximately $118,834. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Pattern Energy Group (NASDAQ:PEGI) traded up 0.10% during mid-day trading on Wednesday, hitting $31.02. 50,523 shares of the company’s stock traded hands. 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 $32.15 and its 200-day moving average is $29.41. The company’s market cap is $1.443 billion.
Pattern Energy Group (NASDAQ:PEGI) last issued its quarterly 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 $0.26 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, October 30th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.328 per share. This represents a $1.31 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date of this dividend is Friday, September 26th. This is a positive change from Pattern Energy Group’s previous quarterly dividend of $0.32.
Several analysts have recently commented on the stock. 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 analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $32.92.
Pattern Energy Group Inc is an independent power company focused on owning and operating power projects.
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