Pattern Energy Group Inc (NASDAQ:PEGI) (TSE:PEG) – Investment analysts at Oppenheimer issued their Q1 2019 earnings per share (EPS) estimates for shares of Pattern Energy Group in a report issued on Sunday, March 3rd. Oppenheimer analyst C. Rusch expects that the utilities provider will earn $0.02 per share for the quarter. Oppenheimer also issued estimates for Pattern Energy Group’s Q2 2019 earnings at $0.02 EPS, Q3 2019 earnings at ($0.02) EPS, Q4 2019 earnings at $0.03 EPS, FY2019 earnings at $0.05 EPS and FY2020 earnings at $0.00 EPS.
Get Pattern Energy Group alerts:Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last posted its quarterly earnings data on Friday, March 1st. The utilities provider reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.34). Pattern Energy Group had a return on equity of 7.35% and a net margin of 30.81%. The firm had revenue of $113.00 million during the quarter, compared to analysts’ expectations of $139.72 million. During the same quarter in the previous year, the company posted ($0.08) earnings per share. Pattern Energy Group’s revenue for the quarter was up 2.7% compared to the same quarter last year.
PEGI has been the subject of a number of other reports. ValuEngine upgraded Pattern Energy Group from a “sell” rating to a “hold” rating in a report on Saturday, December 15th. Macquarie cut Pattern Energy Group from a “neutral” rating to an “underperform” rating in a report on Monday, February 4th. Bank of America upgraded Pattern Energy Group from an “underperform” rating to a “neutral” rating and cut their price objective for the stock from $20.00 to $18.50 in a report on Thursday, December 27th. Zacks Investment Research lowered Pattern Energy Group from a “buy” rating to a “hold” rating in a research note on Tuesday, January 8th. Finally, BMO Capital Markets lowered Pattern Energy Group from an “outperform” rating to a “market perform” rating in a research note on Friday, February 1st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $22.00.
PEGI opened at $20.30 on Wednesday. Pattern Energy Group has a 12-month low of $16.78 and a 12-month high of $21.54. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.54 and a quick ratio of 0.54. The stock has a market capitalization of $2.07 billion, a PE ratio of 14.00, a PEG ratio of 1.74 and a beta of 0.99.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tortoise Capital Advisors L.L.C. raised its position in Pattern Energy Group by 56.5% during the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 2,492 shares of the utilities provider’s stock valued at $50,000 after purchasing an additional 900 shares during the last quarter. Bremer Trust National Association bought a new position in Pattern Energy Group during the 4th quarter valued at approximately $51,000. Quantamental Technologies LLC bought a new position in Pattern Energy Group during the 4th quarter valued at approximately $78,000. Macquarie Group Ltd. raised its position in Pattern Energy Group by 2,250.0% during the 4th quarter. Macquarie Group Ltd. now owns 4,700 shares of the utilities provider’s stock valued at $88,000 after purchasing an additional 4,500 shares during the last quarter. Finally, ETF Managers Group LLC raised its position in Pattern Energy Group by 20.4% during the 4th quarter. ETF Managers Group LLC now owns 7,843 shares of the utilities provider’s stock valued at $146,000 after purchasing an additional 1,331 shares during the last quarter. 86.41% of the stock is owned by institutional investors and hedge funds.
In other news, insider Esben W. Pedersen sold 1,200 shares of the business’s stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $21.12, for a total value of $25,344.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders sold 3,600 shares of company stock valued at $73,656. 1.70% of the stock is currently owned by corporate insiders.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be paid a $0.422 dividend. This represents a $1.69 dividend on an annualized basis and a dividend yield of 8.32%. The ex-dividend date is Thursday, March 28th. Pattern Energy Group’s dividend payout ratio (DPR) is presently 116.55%.
About Pattern Energy Group
Pattern Energy Group Inc, an independent power company, focuses on the construction, ownership, and operation of various power projects in the United States, Canada, and Chile. It holds interests in various wind and solar power projects. The company sells electricity and renewable energy credits primarily to local utilities and local liquid independent system organizations markets.
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