Shares of Pattern Energy Group Inc (NASDAQ:PEGI) (TSE:PEG) have been given an average recommendation of “Hold” by the eighteen ratings firms that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $22.81.
A number of research analysts have weighed in on PEGI shares. ValuEngine lowered Pattern Energy Group from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Desjardins reissued a “buy” rating and set a $26.50 price target on shares of Pattern Energy Group in a research note on Tuesday, February 27th. Goldman Sachs Group raised Pattern Energy Group from a “neutral” rating to a “buy” rating and set a $21.00 price target on the stock in a research note on Tuesday, December 5th. Zacks Investment Research raised Pattern Energy Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 15th. Finally, National Bank Financial reduced their price target on Pattern Energy Group from $28.00 to $26.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 7th.
In other news, Director Douglas G. Hall bought 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 6th. The shares were acquired at an average cost of $17.08 per share, with a total value of $85,400.00. Following the transaction, the director now owns 39,982 shares of the company’s stock, valued at approximately $682,892.56. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Esben W. Pedersen sold 2,400 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $20.51, for a total value of $49,224.00. Following the completion of the transaction, the insider now directly owns 132,128 shares in the company, valued at $2,709,945.28. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in PEGI. Cubist Systematic Strategies LLC purchased a new position in Pattern Energy Group in the third quarter valued at about $107,000. IFP Advisors Inc raised its position in Pattern Energy Group by 139.6% in the fourth quarter. IFP Advisors Inc now owns 5,337 shares of the utilities provider’s stock valued at $115,000 after purchasing an additional 3,110 shares during the period. Point72 Asset Management L.P. purchased a new position in Pattern Energy Group in the third quarter valued at about $135,000. Private Advisor Group LLC purchased a new position in Pattern Energy Group in the third quarter valued at about $203,000. Finally, Xact Kapitalforvaltning AB purchased a new position in Pattern Energy Group in the fourth quarter valued at about $222,000. 96.56% of the stock is currently owned by institutional investors.
Shares of Pattern Energy Group (NASDAQ PEGI) traded down $0.26 during trading on Friday, hitting $18.29. The company’s stock had a trading volume of 999,804 shares, compared to its average volume of 1,220,000. Pattern Energy Group has a one year low of $16.58 and a one year high of $26.56. The stock has a market cap of $1,790.00, a price-to-earnings ratio of -91.45, a PEG ratio of 1.85 and a beta of 0.95. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.80.
Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last issued its quarterly earnings results on Thursday, March 1st. The utilities provider reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.06. Pattern Energy Group had a positive return on equity of 0.34% and a negative net margin of 4.35%. The company had revenue of $110.70 million for the quarter, compared to analyst estimates of $126.11 million. During the same quarter in the prior year, the company posted $0.16 EPS. The business’s revenue for the quarter was up 36.5% compared to the same quarter last year. analysts forecast that Pattern Energy Group will post 0.44 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Friday, March 30th will be given a $0.422 dividend. This represents a $1.69 annualized dividend and a dividend yield of 9.23%. The ex-dividend date is Wednesday, March 28th. Pattern Energy Group’s dividend payout ratio (DPR) is currently -845.00%.
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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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