Pattern Energy Group Target of Unusually Large Options Trading (PEGI)

Pattern Energy Group Inc (NASDAQ:PEGI) (TSE:PEG) was the target of some unusual options trading activity on Monday. Stock investors acquired 30,248 put options on the stock. This is an increase of approximately 4,802% compared to the average volume of 617 put options.

Several analysts have recently weighed in on PEGI shares. TheStreet raised shares of Pattern Energy Group from a “c+” rating to a “b-” rating in a report on Thursday, August 23rd. Zacks Investment Research raised shares of Pattern Energy Group from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Wednesday, October 10th. BidaskClub raised shares of Pattern Energy Group from a “hold” rating to a “buy” rating in a report on Tuesday, October 23rd. National Bank Financial lowered their target price on shares of Pattern Energy Group from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Friday, July 27th. Finally, ValuEngine raised shares of Pattern Energy Group from a “strong sell” rating to a “sell” rating in a report on Thursday, November 1st. Two analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $22.42.

Hedge funds have recently added to or reduced their stakes in the stock. Chicago Partners Investment Group LLC boosted its holdings in Pattern Energy Group by 116.0% during the second quarter. Chicago Partners Investment Group LLC now owns 5,677 shares of the utilities provider’s stock worth $106,000 after buying an additional 3,049 shares in the last quarter. Macquarie Group Ltd. purchased a new stake in shares of Pattern Energy Group in the second quarter valued at about $124,000. CAPROCK Group Inc. purchased a new stake in shares of Pattern Energy Group in the third quarter valued at about $204,000. Xact Kapitalforvaltning AB lifted its holdings in shares of Pattern Energy Group by 28.1% in the second quarter. Xact Kapitalforvaltning AB now owns 16,846 shares of the utilities provider’s stock valued at $316,000 after purchasing an additional 3,700 shares in the last quarter. Finally, Raymond James & Associates lifted its holdings in shares of Pattern Energy Group by 29.0% in the second quarter. Raymond James & Associates now owns 27,095 shares of the utilities provider’s stock valued at $508,000 after purchasing an additional 6,094 shares in the last quarter. 90.18% of the stock is currently owned by hedge funds and other institutional investors.

PEGI stock opened at $19.65 on Tuesday. The stock has a market cap of $1.82 billion, a P/E ratio of 103.42, a P/E/G ratio of 0.40 and a beta of 1.07. Pattern Energy Group has a 52 week low of $16.58 and a 52 week high of $23.03. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.86.

Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last released its quarterly earnings data on Monday, November 5th. The utilities provider reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.09). The company had revenue of $118.39 million for the quarter, compared to analysts’ expectations of $117.22 million. Pattern Energy Group had a return on equity of 6.91% and a net margin of 28.80%. The firm’s quarterly revenue was up 28.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.34) EPS. On average, equities analysts predict that Pattern Energy Group will post 1.56 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 31st. Investors of record on Friday, September 28th were issued a dividend of $0.422 per share. This represents a $1.69 dividend on an annualized basis and a yield of 8.59%. The ex-dividend date was Thursday, September 27th. Pattern Energy Group’s dividend payout ratio is currently 889.47%.

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Pattern Energy Group Company Profile

Pattern Energy Group Inc, an independent power company, focuses on the construction, ownership, and operation of various power projects in the United States, Canada, and Chile. It holds interests in various wind and solar power projects. The company sells electricity and renewable energy credits primarily to local utilities and local liquid independent system organizations markets.

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