Somewhat Favorable Press Coverage Somewhat Unlikely to Affect Pattern Energy Group (NASDAQ:PEGI) Share Price

News coverage about Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) has been trending somewhat positive this week, Accern Sentiment reports. The research group rates the sentiment of news coverage by analyzing more than twenty million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Pattern Energy Group earned a daily sentiment score of 0.18 on Accern’s scale. Accern also gave media coverage about the utilities provider an impact score of 46.8643500562406 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.

Here are some of the headlines that may have impacted Accern Sentiment’s rankings:

Pattern Energy Group (NASDAQ:PEGI) opened at 24.45 on Friday. The firm’s 50-day moving average price is $24.34 and its 200-day moving average price is $22.20. The company has a market cap of $2.14 billion, a P/E ratio of 71.28 and a beta of 1.05. Pattern Energy Group has a 12-month low of $18.68 and a 12-month high of $25.42.

Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last announced its earnings results on Tuesday, August 8th. The utilities provider reported $0.16 EPS for the quarter, topping the consensus estimate of $0.13 by $0.03. The business had revenue of $107.76 million for the quarter, compared to the consensus estimate of $124.02 million. Pattern Energy Group had a return on equity of 1.05% and a net margin of 7.77%. Pattern Energy Group’s revenue was up 15.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.04) EPS. Analysts expect that Pattern Energy Group will post $0.29 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be issued a dividend of $0.42 per share. This is an increase from Pattern Energy Group’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.68 annualized dividend and a yield of 6.87%. Pattern Energy Group’s dividend payout ratio is currently 506.08%.

Several equities research analysts have commented on the company. Royal Bank Of Canada upped their price target on Pattern Energy Group from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 20th. Desjardins reiterated a “buy” rating and issued a $25.50 target price on shares of Pattern Energy Group in a research note on Thursday, April 27th. J P Morgan Chase & Co reiterated a “neutral” rating and issued a $24.00 target price (up previously from $23.00) on shares of Pattern Energy Group in a research note on Tuesday, June 20th. BidaskClub lowered Pattern Energy Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 10th. Finally, Raymond James Financial, Inc. increased their target price on Pattern Energy Group from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Thursday, June 22nd. Six investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Pattern Energy Group currently has an average rating of “Buy” and a consensus price target of $25.40.

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In other Pattern Energy Group news, insider Esben W. Pedersen sold 1,200 shares of the company’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $23.00, for a total transaction of $27,600.00. Following the completion of the sale, the insider now owns 146,067 shares in the company, valued at approximately $3,359,541. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Daniel M. Elkort sold 4,100 shares of the company’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $24.08, for a total transaction of $98,728.00. Following the sale, the vice president now owns 75,173 shares of the company’s stock, valued at approximately $1,810,165.84. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,711,400 shares of company stock worth $190,889,034. Company insiders own 1.60% of the company’s stock.

Pattern Energy Group Company Profile

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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