According to The Fly, a Wall Street analyst has provided a review for the Utilities company today, but retained the same rating on the stock. Pattern Energy Group A (PEG) received a Buy rating from Oppenheimer’s analyst Colin Rusch.
Rusch observed:
“PEGI’s portfolio showed steady performance as 3Q:18 results modestly outperformed Street expectations. The company continues to have a solid portfolio of assets in its ROFO list which we believe can support growth over the next couple of years. With a dividend yield of ~9%, we continue to believe PEGI is significantly undervalued. We believe its underwriting practices are in line with industry best practices and its wind resource modelling capabilities are among the industry leaders. While some investors might look for PEGI to grow dividends, we believe management is prudent to deploy cash elsewhere until shares trade in line with assets that carry a similar risk profile showing ~5% returns.”
According to TipRanks.com, Rusch is a 4-star analyst with an average return of 8.9% and a 48.5% success rate. Rusch covers the Industrial Goods sector, focusing on stocks such as Capstone Turbine Corp, Canadian Solar Inc, and Fuelcell Energy.
Pattern Energy Group A has an analyst consensus of Moderate Buy.
Pattern Energy Group, Inc. is an independent power company, which owns and operates wind and solar power facilities sales contracts. It operates through the following geographical segments: United States, Canada, and Chile. The company was founded on October 2, 2012 and is headquartered in San Francisco, CA.
