Pattern Energy Group (NASDAQ:PEGI) Getting Somewhat Positive Media Coverage, Study Finds
Press coverage about Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) has trended somewhat positive this week, according to Accern. The research firm ranks the sentiment of media coverage by monitoring more than twenty million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Pattern Energy Group earned a daily sentiment score of 0.11 on Accern’s scale. Accern also assigned news headlines about the utilities provider an impact score of 47.4113899088693 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
These are some of the news headlines that may have impacted Accern Sentiment Analysis’s scoring:
- This Week in Solar – Motley Fool (fool.com)
- Pattern Energy Group Inc (PEGI) Awesome Oscillator Trending Lower Past 5 Bars – FLBC News (flbcnews.com)
- Carlyle Group Lp Sells A Lot More Pattern Energy Group Inc. (PEGI) Stock In The Last Quarter – Modern Readers (modernreaders.com)
- Pattern Energy Group Inc. Forecasted to Post FY2017 Earnings of $0.30 Per Share (PEGI) (americanbankingnews.com)
- Equities Analysts Offer Predictions for Pattern Energy Group Inc.’s FY2017 Earnings (NASDAQ:PEGI) (americanbankingnews.com)
PEGI has been the subject of several analyst reports. Desjardins reaffirmed a “buy” rating and issued a $25.50 price objective on shares of Pattern Energy Group in a research note on Thursday, April 27th. Royal Bank Of Canada reissued a “buy” rating and set a $24.00 price target on shares of Pattern Energy Group in a research note on Tuesday, May 9th. ValuEngine raised Pattern Energy Group from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. J P Morgan Chase & Co reissued a “neutral” rating and set a $24.00 price target (up from $23.00) on shares of Pattern Energy Group in a research note on Tuesday, June 20th. Finally, Raymond James Financial, Inc. raised their price target on Pattern Energy Group from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Thursday, June 22nd. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $25.40.
Shares of Pattern Energy Group (PEGI) traded up 1.19% during midday trading on Friday, hitting $23.86. The company had a trading volume of 579,794 shares. Pattern Energy Group has a 12 month low of $18.68 and a 12 month high of $25.42. The company has a market capitalization of $2.09 billion, a PE ratio of 69.56 and a beta of 1.05. The company has a 50-day moving average of $24.43 and a 200-day moving average of $22.04.
Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last released its quarterly earnings data on Tuesday, August 8th. The utilities provider reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.03. Pattern Energy Group had a return on equity of 1.05% and a net margin of 7.77%. The firm had revenue of $107.76 million for the quarter, compared to analysts’ expectations of $124.02 million. During the same period in the prior year, the firm posted ($0.04) earnings per share. The firm’s quarterly revenue was up 15.4% on a year-over-year basis. Analysts predict that Pattern Energy Group will post $0.39 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This is a boost from Pattern Energy Group’s previous quarterly dividend of $0.42. This represents a $1.68 dividend on an annualized basis and a yield of 7.04%. Pattern Energy Group’s dividend payout ratio is currently 506.08%.
In related news, insider Esben W. Pedersen sold 1,200 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $25.18, for a total value of $30,216.00. Following the transaction, the insider now directly owns 149,411 shares in the company, valued at $3,762,168.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Renewable Energy Gp Ii L. R/C sold 8,700,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $21.91, for a total value of $190,617,000.00. The disclosure for this sale can be found here. Insiders sold 8,707,300 shares of company stock worth $190,790,306 over the last quarter. 1.60% of the stock is currently owned by insiders.
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About Pattern Energy Group
Pattern Energy Group Inc is an independent power company focused on owning and operating power projects. The Company holds interests in over 18 wind power projects located in the United States, Canada and Chile with total capacity of over 2,644 megawatts (MW). Each of its projects has contracted to sell its output pursuant to a power sale agreement.
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