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dydo

Pattern Energy Group Inc. (PEGI)

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kbaba    0

PEGI will officially report deficient accounting controls right? I'm long anyway and expect this to be resolved well but have been reluctant to add because I'd expect a drop on that report however expected

anybody know when that happens?

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dydo    1,423

They already said they will report deficiency, this is why I do not expect much of additional pressure, maybe they say it is mended. No I do not have any other way to know if it is over.

Sent from my HTC One_M8 using Tapatalk

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heliostat    2
On 07/02/2017 at 11:46 PM, odyd said:

Thank you for your post.

My plan is still to stay away from the solar sector to a large degree. I am only adjusting my full investment in PEGI from one account where I cannot buy a meaningful amount of shares with the dividend. So it is a bit technical. There is nothing wrong with the cash, but I thought CSIQ is performing its plan, and they seem to be cashing their plants relatively well, and the price is hovering for some time over the same place.

Since my plan is mostly subjective to yieldcos doing better than solar cos, It is a bit of open door position. I am in, but I am not fully committed. I will not miss the boat entirely, and not lose the farm, due to the small position if things go the way I suspect.

I have absolutely no fundamental indicators to do it now, all gut.

I do not think FSLR is going to play a significant role in the next turn of recovery.  It may just stay floating inflated for years, at the same time hyped by technology which possibly will not deliver and many people thinking they have the best company in the business.

It is possible that FSLR can sit through next three years being in this range for those reasons.

Thanks for your response Robert, BTW just saw Franklin Resources has now 6% of FSLR

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dydo    1,423

I see that FSLR sold 140MW this year to a third party, and CNBC is reporting it. Jinko sold 1GW to one location and will own 20% of the plant, and a stock lost 20 cents.

I will be watching FSLR patiently from a distance. I think FSLR is the riskiest solar unless someone bought SPWR in hopes of getting a double, that would be more risk, in my opinion of course.

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sunnypease    12

Every once in a while you can get a glimpse of what is going on inside of FSLR via glassdoor.  

For example the first review is from a "Former Employee - Director"  He says  "Tough times in the industry, makes me wonder if they will survive financially"

But then the next review really sounds like the thesis of a short seller, so it's hard to tell if these reviews are legitimate.

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dydo    1,423

Vanguard has 6.3% of PEGI reported today and Signature Global Asset Management owns 5%. Both mutual funds. Adding Blackrock total is about 16%

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solarfun    1

Robert, got a question. I have  not touched solar for some time other than holding TSL and JASO and waiting for the buyout settlement/news. Thinking of getting into PEGI as soon as TSL or JASO fund is available. Hope TSL buyout to be settled by Q1. What is the downsize risk for PEGI? With 8+% dividend rate, it is very attractive.

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dydo    1,423

Hi Solarfun,

I think there is a lot of downside to PEGI, based on the market fears or even due to the company not making its objectives.

The market may look at IR, the cost of capital, equity, growing leverage as issues and depressing stock price. Their material weakness announced last quarter could still be a surprise to some, any the resolution may not be offered, any extension of the problem could provoke an adverse reaction.

Projects may have cost/ return issues, or the sponsor's management could take an approach to get profits with yieldco's buying its assets with low IRR.

Dividend growth could be limited because the aggressive payout format cannot continue, or because acquisitions do not have a lot of CAFD which would shift the payout.

There are more, but I mean those are basic ones.

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