PEGI - Is Pattern Energy Group Stock a Buy?
In early 2020, renewable power company Pattern Energy Group (NASDAQ: PEGI) agreed to be acquired by the Canada Pension Plan Investment Board. It should have been a pretty simple transaction, with Pattern shareholders receiving $26.75 per share in cash. But it hasn't gone quite as smoothly as expected, and investors should take action now, before the March 10 vote on the deal.
Pattern Energy Group builds renewable power facilities like solar and wind farms. It then sells the power to customers under long-term contracts. Historically, it has taken an active role with its portfolio, selling mature projects so it can invest the proceeds in new developments. It operates around 4.4 gigawatts of power assets in the United States, Canada, and Japan.
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