Pattern Energy Group Inc (NASDAQ:PEGI) (TSE:PEG) has been given a consensus recommendation of “Hold” by the fourteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $24.92.
A number of research firms recently commented on PEGI. Royal Bank of Canada boosted their price objective on shares of Pattern Energy Group from $24.00 to $28.00 and gave the stock an “outperform” rating in a report on Thursday, August 22nd. Bank of America boosted their price objective on shares of Pattern Energy Group from $23.00 to $23.50 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Raymond James downgraded shares of Pattern Energy Group from an “outperform” rating to a “market perform” rating in a report on Tuesday, August 13th. Wells Fargo & Co downgraded shares of Pattern Energy Group from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from $24.00 to $26.00 in a report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Pattern Energy Group from $22.00 to $25.00 and gave the stock a “neutral” rating in a report on Tuesday, September 3rd.
A number of hedge funds have recently added to or reduced their stakes in PEGI. Dimensional Fund Advisors LP boosted its holdings in Pattern Energy Group by 4.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,026,095 shares of the utilities provider’s stock worth $37,725,000 after buying an additional 83,674 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Pattern Energy Group by 24.8% in the fourth quarter. Geode Capital Management LLC now owns 1,152,398 shares of the utilities provider’s stock valued at $21,457,000 after purchasing an additional 229,260 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of Pattern Energy Group in the first quarter valued at about $1,670,000. Rhumbline Advisers lifted its holdings in shares of Pattern Energy Group by 2.1% in the first quarter. Rhumbline Advisers now owns 116,630 shares of the utilities provider’s stock valued at $2,566,000 after purchasing an additional 2,374 shares in the last quarter. Finally, Toronto Dominion Bank lifted its holdings in shares of Pattern Energy Group by 17,444.4% in the first quarter. Toronto Dominion Bank now owns 7,895 shares of the utilities provider’s stock valued at $173,000 after purchasing an additional 7,850 shares in the last quarter. 81.69% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:PEGI traded down $0.08 during midday trading on Wednesday, hitting $27.41. The stock had a trading volume of 664,067 shares, compared to its average volume of 801,974. The company has a market capitalization of $2.70 billion, a PE ratio of 18.91 and a beta of 0.97. The stock has a 50 day moving average price of $25.62 and a two-hundred day moving average price of $23.17. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 1.08. Pattern Energy Group has a 1 year low of $17.23 and a 1 year high of $27.77.
Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last issued its earnings results on Tuesday, August 6th. The utilities provider reported ($0.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.11). The firm had revenue of $135.00 million during the quarter, compared to analysts’ expectations of $137.90 million. Pattern Energy Group had a negative net margin of 12.36% and a negative return on equity of 3.00%. The firm’s revenue was down .7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.34 EPS. As a group, equities analysts expect that Pattern Energy Group will post -0.27 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be issued a dividend of $0.422 per share. This represents a $1.69 dividend on an annualized basis and a yield of 6.16%. The ex-dividend date of this dividend is Thursday, September 26th. Pattern Energy Group’s dividend payout ratio is currently 116.55%.
Pattern Energy Group Company Profile
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 Do Front-End Loads Impact an Investment?
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.