Daiwa SB Investments Ltd. lifted its holdings in Pattern Energy Group Inc (NASDAQ:PEGI) (TSE:PEG) by 52.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,567 shares of the utilities provider’s stock after acquiring an additional 19,559 shares during the period. Daiwa SB Investments Ltd. owned approximately 0.06% of Pattern Energy Group worth $1,216,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Cubist Systematic Strategies LLC acquired a new stake in shares of Pattern Energy Group in the third quarter worth $107,000. Advisor Group Inc. increased its position in shares of Pattern Energy Group by 31.0% in the second quarter. Advisor Group Inc. now owns 5,039 shares of the utilities provider’s stock worth $121,000 after acquiring an additional 1,193 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Pattern Energy Group in the third quarter worth $135,000. Ameritas Investment Partners Inc. grew its holdings in Pattern Energy Group by 7.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,179 shares of the utilities provider’s stock valued at $147,000 after purchasing an additional 451 shares in the last quarter. Finally, Private Advisor Group LLC acquired a new stake in Pattern Energy Group during the 3rd quarter valued at $203,000. 75.37% of the stock is owned by institutional investors.
Shares of Pattern Energy Group Inc (NASDAQ:PEGI) traded down $0.07 during mid-day trading on Friday, reaching $20.40. 773,786 shares of the company’s stock traded hands, compared to its average volume of 799,348. The firm has a market cap of $1,990.00, a price-to-earnings ratio of 510.00, a P/E/G ratio of 3.57 and a beta of 0.88. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.51 and a current ratio of 0.51. Pattern Energy Group Inc has a 52 week low of $19.51 and a 52 week high of $26.56.
Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last announced its quarterly earnings data on Thursday, November 9th. The utilities provider reported ($0.26) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.14). Pattern Energy Group had a return on equity of 0.06% and a net margin of 1.01%. equities research analysts predict that Pattern Energy Group Inc will post 0.11 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Shareholders of record on Friday, December 29th were issued a dividend of $0.422 per share. This is a positive change from Pattern Energy Group’s previous quarterly dividend of $0.42. This represents a $1.69 annualized dividend and a yield of 8.27%. The ex-dividend date was Thursday, December 28th. Pattern Energy Group’s dividend payout ratio (DPR) is currently 4,225.00%.
In other Pattern Energy Group news, insider Esben W. Pedersen sold 2,400 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $21.59, for a total transaction of $51,816.00. Following the completion of the transaction, the insider now directly owns 134,528 shares of the company’s stock, valued at approximately $2,904,459.52. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last three months, insiders have sold 7,200 shares of company stock valued at $155,112. 1.60% of the stock is owned by company insiders.
PEGI has been the subject of a number of recent analyst reports. BMO Capital Markets lowered their price target on shares of Pattern Energy Group from $28.50 to $28.00 and set an “outperform” rating for the company in a report on Friday, November 10th. Bank of America reaffirmed an “underperform” rating and set a $21.00 price target on shares of Pattern Energy Group in a report on Tuesday, October 24th. Morgan Stanley lowered shares of Pattern Energy Group from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $33.00 to $25.00 in a report on Tuesday, December 12th. Zacks Investment Research lowered shares of Pattern Energy Group from a “hold” rating to a “sell” rating in a report on Wednesday, January 10th. Finally, BidaskClub lowered shares of Pattern Energy Group from a “hold” rating to a “sell” rating in a report on Saturday, January 13th. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $25.61.
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About Pattern Energy Group
Pattern Energy Group Inc is an independent power company focused on owning and operating power projects. The Company holds interests in over 18 wind power projects located in the United States, Canada and Chile with total capacity of over 2,644 megawatts (MW). Each of its projects has contracted to sell its output pursuant to a power sale agreement.
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