Pattern Energy Group Inc (PEGI) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio decreased its holdings in shares of Pattern Energy Group Inc (NASDAQ:PEGI) (TSE:PEG) by 91.2% during the 4th quarter, HoldingsChannel reports. The firm owned 2,273 shares of the utilities provider’s stock after selling 23,618 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Pattern Energy Group were worth $42,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in PEGI. Prudential Financial Inc. purchased a new position in Pattern Energy Group in the third quarter valued at approximately $591,000. Dimensional Fund Advisors LP raised its stake in shares of Pattern Energy Group by 1.6% during the third quarter. Dimensional Fund Advisors LP now owns 1,942,421 shares of the utilities provider’s stock valued at $38,595,000 after purchasing an additional 30,164 shares during the period. MetLife Investment Advisors LLC raised its stake in shares of Pattern Energy Group by 53.9% during the third quarter. MetLife Investment Advisors LLC now owns 55,343 shares of the utilities provider’s stock valued at $1,100,000 after purchasing an additional 19,394 shares during the period. Teachers Advisors LLC raised its stake in shares of Pattern Energy Group by 0.4% during the third quarter. Teachers Advisors LLC now owns 943,852 shares of the utilities provider’s stock valued at $18,754,000 after purchasing an additional 3,830 shares during the period. Finally, Rehmann Capital Advisory Group raised its stake in shares of Pattern Energy Group by 1,886.8% during the third quarter. Rehmann Capital Advisory Group now owns 10,272 shares of the utilities provider’s stock valued at $517,000 after purchasing an additional 9,755 shares during the period. Institutional investors own 83.73% of the company’s stock.

PEGI opened at $22.40 on Friday. The company has a market cap of $2.20 billion, a PE ratio of 15.45, a PEG ratio of 1.66 and a beta of 1.05. Pattern Energy Group Inc has a 52-week low of $16.81 and a 52-week high of $22.91. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.44 and a current ratio of 0.44.

Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last posted its quarterly earnings data on Friday, March 1st. The utilities provider reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.34). The firm had revenue of $113.00 million for the quarter, compared to analysts’ expectations of $139.72 million. Pattern Energy Group had a net margin of 29.62% and a return on equity of 6.45%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.08) EPS. Equities research analysts predict that Pattern Energy Group Inc will post 0.5 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be paid a $0.422 dividend. The ex-dividend date is Thursday, March 28th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 7.54%. Pattern Energy Group’s dividend payout ratio (DPR) is presently 116.55%.

A number of analysts have recently issued reports on PEGI shares. BidaskClub upgraded shares of Pattern Energy Group from a “hold” rating to a “buy” rating in a research note on Thursday, March 7th. ValuEngine upgraded shares of Pattern Energy Group from a “hold” rating to a “buy” rating in a research note on Wednesday, March 6th. Zacks Investment Research upgraded shares of Pattern Energy Group from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a research note on Thursday, January 3rd. BMO Capital Markets lowered shares of Pattern Energy Group from an “outperform” rating to a “market perform” rating in a research note on Friday, February 1st. Finally, Bank of America upgraded shares of Pattern Energy Group from an “underperform” rating to a “neutral” rating and dropped their price objective for the company from $20.00 to $18.50 in a research note on Thursday, December 27th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Pattern Energy Group has a consensus rating of “Hold” and an average target price of $22.00.

In related news, SVP Christopher M. Shugart sold 6,000 shares of Pattern Energy Group stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $22.00, for a total value of $132,000.00. Following the completion of the sale, the senior vice president now owns 64,584 shares in the company, valued at $1,420,848. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Kevin E. Devlin sold 2,943 shares of Pattern Energy Group stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $21.13, for a total transaction of $62,185.59. Following the completion of the sale, the senior vice president now owns 22,080 shares of the company’s stock, valued at approximately $466,550.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,343 shares of company stock valued at $243,842. Insiders own 1.70% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Pattern Energy Group Inc (PEGI) Shares Sold by Public Employees Retirement System of Ohio” was first published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this piece on another domain, it was illegally copied and republished in violation of international trademark and copyright legislation. The legal version of this piece can be viewed at https://www.dispatchtribunal.com/2019/04/20/pattern-energy-group-inc-pegi-shares-sold-by-public-employees-retirement-system-of-ohio.html.

About Pattern Energy Group

Pattern Energy Group Inc operates as an integrated renewable energy company. The company operates in two segments, Operating Business and Development Business. The Operating Business segment holds interest in 24 renewable energy projects with an operating capacity that totals approximately 4 gigawatts located in the United States, Canada, and Japan.

Further Reading: How to read a candlestick chart

Want to see what other hedge funds are holding PEGI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pattern Energy Group Inc (NASDAQ:PEGI) (TSE:PEG).

Institutional Ownership by Quarter for Pattern Energy Group (NASDAQ:PEGI)

Receive News & Ratings for Pattern Energy Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pattern Energy Group and related companies with MarketBeat.com's FREE daily email newsletter.