NEP - Pattern Energy Going Private: 3 High-Yield Stocks to Buy Instead and 2 More for Your Watch List
Pattern Energy (NASDAQ: PEGI), perhaps my favorite high-yield renewable energy investment over the past couple of years, is going private. The company has accepted a cash deal worth $26.75 per share to be acquired by a large Canadian pension fund.
For many shareholders -- yours truly included -- this comes as a disappointment. I've been impressed with the company's results, and CEO Mike Garland's ability to navigate the market and make smart capital-allocation moves had me looking forward to a profitable decade to come. But all things come to an end, and unfortunately this one is just happening sooner than I'd hoped.
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