Shares of Pattern Energy Group Inc (NASDAQ:PEGI) (TSE:PEG) have received an average recommendation of “Hold” from the sixteen ratings firms that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $22.96.
PEGI has been the topic of several recent research reports. Guggenheim set a $25.00 target price on shares of Pattern Energy Group and gave the stock a “buy” rating in a research report on Friday, March 2nd. Desjardins reiterated a “buy” rating and set a $26.50 target price on shares of Pattern Energy Group in a research report on Tuesday, February 27th. BMO Capital Markets reiterated a “buy” rating and set a $26.00 target price on shares of Pattern Energy Group in a research report on Tuesday, February 6th. Goldman Sachs set a $22.00 target price on shares of Pattern Energy Group and gave the stock a “buy” rating in a research report on Saturday, March 17th. Finally, Morgan Stanley downgraded shares of Pattern Energy Group from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $33.00 to $25.00 in a research report on Tuesday, December 12th.
NASDAQ:PEGI traded down $0.41 during mid-day trading on Wednesday, hitting $17.16. 859,272 shares of the company’s stock were exchanged, compared to its average volume of 1,068,935. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.25 and a quick ratio of 1.25. Pattern Energy Group has a fifty-two week low of $16.58 and a fifty-two week high of $26.56. The company has a market cap of $1,719.49, a PE ratio of 90.32, a P/E/G ratio of 2.43 and a beta of 0.97.
Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last posted its earnings results on Thursday, March 1st. The utilities provider reported $0.11 EPS for the quarter, topping the consensus estimate of $0.05 by $0.06. Pattern Energy Group had a negative net margin of 4.35% and a positive return on equity of 0.34%. The business had revenue of $110.70 million for the quarter, compared to the consensus estimate of $126.11 million. During the same period last year, the company earned $0.16 EPS. The firm’s revenue was up 36.5% compared to the same quarter last year. equities research analysts expect that Pattern Energy Group will post 0.31 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Friday, March 30th will be given a $0.422 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 9.84%. Pattern Energy Group’s dividend payout ratio (DPR) is currently 889.47%.
In other news, Director Douglas G. Hall purchased 5,000 shares of the company’s stock in a transaction dated Tuesday, March 6th. The shares were purchased at an average price of $17.08 per share, for a total transaction of $85,400.00. Following the transaction, the director now owns 39,982 shares of the company’s stock, valued at $682,892.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Esben W. Pedersen sold 2,400 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $20.51, for a total transaction of $49,224.00. Following the completion of the transaction, the insider now owns 132,128 shares in the company, valued at approximately $2,709,945.28. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Cubist Systematic Strategies LLC acquired a new position in shares of Pattern Energy Group in the 3rd quarter worth approximately $107,000. IFP Advisors Inc lifted its position in shares of Pattern Energy Group by 139.6% in the 4th quarter. IFP Advisors Inc now owns 5,337 shares of the utilities provider’s stock worth $115,000 after purchasing an additional 3,110 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Pattern Energy Group in the 3rd quarter worth approximately $135,000. Private Advisor Group LLC acquired a new position in shares of Pattern Energy Group in the 3rd quarter worth approximately $203,000. Finally, Xact Kapitalforvaltning AB acquired a new position in shares of Pattern Energy Group in the 4th quarter worth approximately $222,000. Hedge funds and other institutional investors own 96.60% of the company’s stock.
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Pattern Energy Group Company Profile
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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