Pattern Energy Group Inc. (PEGI) Expected to Post Earnings of -$0.08 Per Share

Wall Street brokerages expect Pattern Energy Group Inc. (NASDAQ:PEGI) (TSE:PEG) to post earnings of ($0.08) per share for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Pattern Energy Group’s earnings, with the highest EPS estimate coming in at $0.02 and the lowest estimate coming in at ($0.20). Pattern Energy Group reported earnings of ($0.05) per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 60%. The firm is scheduled to issue its next quarterly earnings results on Monday, November 6th.

On average, analysts expect that Pattern Energy Group will report full year earnings of $0.23 per share for the current year, with EPS estimates ranging from $0.10 to $0.44. For the next year, analysts expect that the business will report earnings of $0.42 per share, with EPS estimates ranging from $0.00 to $0.92. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Pattern Energy Group.

Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last issued its quarterly earnings results on Tuesday, August 8th. The utilities provider reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. The business had revenue of $107.76 million during the quarter, compared to analysts’ expectations of $124.02 million. Pattern Energy Group had a return on equity of 1.05% and a net margin of 7.77%. The business’s quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.04) earnings per share.

Several brokerages recently weighed in on PEGI. Royal Bank Of Canada lifted their price target on Pattern Energy Group from $24.00 to $25.00 and gave the company an “outperform” rating in a research note on Tuesday, June 20th. J P Morgan Chase & Co restated a “neutral” rating and issued a $24.00 price target (up previously from $23.00) on shares of Pattern Energy Group in a research note on Tuesday, June 20th. BidaskClub lowered Pattern Energy Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 10th. BMO Capital Markets restated a “buy” rating and issued a $28.50 price target on shares of Pattern Energy Group in a research note on Friday, September 8th. Finally, Zacks Investment Research upgraded Pattern Energy Group from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research note on Friday, August 25th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Pattern Energy Group has a consensus rating of “Buy” and an average price target of $26.40.

TRADEMARK VIOLATION WARNING: “Pattern Energy Group Inc. (PEGI) Expected to Post Earnings of -$0.08 Per Share” was originally published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this article on another domain, it was stolen and republished in violation of US & international copyright law. The correct version of this article can be viewed at https://ledgergazette.com/2017/10/10/pattern-energy-group-inc-pegi-expected-to-post-earnings-of-0-08-per-share.html.

Pattern Energy Group (NASDAQ PEGI) traded up 1.90% during trading on Tuesday, hitting $24.68. The stock had a trading volume of 357,917 shares. The firm’s 50-day moving average price is $25.20 and its 200-day moving average price is $23.50. The company has a market cap of $2.16 billion, a price-to-earnings ratio of 71.95 and a beta of 1.04. Pattern Energy Group has a 52-week low of $18.68 and a 52-week high of $26.56.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be paid a dividend of $0.42 per share. This is a positive change from Pattern Energy Group’s previous quarterly dividend of $0.42. This represents a $1.68 annualized dividend and a yield of 6.94%. The ex-dividend date of this dividend is Thursday, September 28th. Pattern Energy Group’s payout ratio is 509.11%.

In other Pattern Energy Group news, insider Esben W. Pedersen sold 2,400 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $23.99, for a total transaction of $57,576.00. Following the completion of the sale, the insider now directly owns 145,811 shares in the company, valued at approximately $3,498,005.89. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Daniel M. Elkort sold 4,100 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $24.08, for a total value of $98,728.00. Following the sale, the vice president now owns 75,173 shares of the company’s stock, valued at $1,810,165.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,400 shares of company stock valued at $253,840. 1.60% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of PEGI. First Trust Advisors LP increased its stake in Pattern Energy Group by 7.2% during the 1st quarter. First Trust Advisors LP now owns 105,016 shares of the utilities provider’s stock worth $2,114,000 after buying an additional 7,042 shares in the last quarter. US Bancorp DE increased its stake in Pattern Energy Group by 24.4% during the 1st quarter. US Bancorp DE now owns 6,274 shares of the utilities provider’s stock worth $126,000 after buying an additional 1,231 shares in the last quarter. Swiss National Bank increased its stake in Pattern Energy Group by 3.4% during the 1st quarter. Swiss National Bank now owns 115,449 shares of the utilities provider’s stock worth $2,324,000 after buying an additional 3,800 shares in the last quarter. UBS Asset Management Americas Inc. increased its stake in Pattern Energy Group by 139.1% during the 1st quarter. UBS Asset Management Americas Inc. now owns 38,967 shares of the utilities provider’s stock worth $784,000 after buying an additional 22,667 shares in the last quarter. Finally, Parametric Portfolio Associates LLC increased its stake in Pattern Energy Group by 88.3% during the 1st quarter. Parametric Portfolio Associates LLC now owns 106,996 shares of the utilities provider’s stock worth $2,154,000 after buying an additional 50,173 shares in the last quarter. Institutional investors own 95.36% of the company’s stock.

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.

Get a free copy of the Zacks research report on Pattern Energy Group (PEGI)

On average, analysts expect that Pattern Energy Group will report full year earnings of $0.23 per share for the current year, with EPS estimates ranging from $0.10 to $0.44. For the next year, analysts expect that the business will report earnings of $0.42 per share, with EPS estimates ranging from $0.00 to $0.92. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Pattern Energy Group.

Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last issued its quarterly earnings results on Tuesday, August 8th. The utilities provider reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. The business had revenue of $107.76 million during the quarter, compared to analysts’ expectations of $124.02 million. Pattern Energy Group had a return on equity of 1.05% and a net margin of 7.77%. The business’s quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.04) earnings per share.

Several brokerages recently weighed in on PEGI. Royal Bank Of Canada lifted their price target on Pattern Energy Group from $24.00 to $25.00 and gave the company an “outperform” rating in a research note on Tuesday, June 20th. J P Morgan Chase & Co restated a “neutral” rating and issued a $24.00 price target (up previously from $23.00) on shares of Pattern Energy Group in a research note on Tuesday, June 20th. BidaskClub lowered Pattern Energy Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 10th. BMO Capital Markets restated a “buy” rating and issued a $28.50 price target on shares of Pattern Energy Group in a research note on Friday, September 8th. Finally, Zacks Investment Research upgraded Pattern Energy Group from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research note on Friday, August 25th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Pattern Energy Group has a consensus rating of “Buy” and an average price target of $26.40.

TRADEMARK VIOLATION WARNING: “Pattern Energy Group Inc. (PEGI) Expected to Post Earnings of -$0.08 Per Share” was originally published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this article on another domain, it was stolen and republished in violation of US & international copyright law. The correct version of this article can be viewed at https://ledgergazette.com/2017/10/10/pattern-energy-group-inc-pegi-expected-to-post-earnings-of-0-08-per-share.html.

Pattern Energy Group (NASDAQ PEGI) traded up 1.90% during trading on Tuesday, hitting $24.68. The stock had a trading volume of 357,917 shares. The firm’s 50-day moving average price is $25.20 and its 200-day moving average price is $23.50. The company has a market cap of $2.16 billion, a price-to-earnings ratio of 71.95 and a beta of 1.04. Pattern Energy Group has a 52-week low of $18.68 and a 52-week high of $26.56.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be paid a dividend of $0.42 per share. This is a positive change from Pattern Energy Group’s previous quarterly dividend of $0.42. This represents a $1.68 annualized dividend and a yield of 6.94%. The ex-dividend date of this dividend is Thursday, September 28th. Pattern Energy Group’s payout ratio is 509.11%.

In other Pattern Energy Group news, insider Esben W. Pedersen sold 2,400 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $23.99, for a total transaction of $57,576.00. Following the completion of the sale, the insider now directly owns 145,811 shares in the company, valued at approximately $3,498,005.89. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Daniel M. Elkort sold 4,100 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $24.08, for a total value of $98,728.00. Following the sale, the vice president now owns 75,173 shares of the company’s stock, valued at $1,810,165.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,400 shares of company stock valued at $253,840. 1.60% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of PEGI. First Trust Advisors LP increased its stake in Pattern Energy Group by 7.2% during the 1st quarter. First Trust Advisors LP now owns 105,016 shares of the utilities provider’s stock worth $2,114,000 after buying an additional 7,042 shares in the last quarter. US Bancorp DE increased its stake in Pattern Energy Group by 24.4% during the 1st quarter. US Bancorp DE now owns 6,274 shares of the utilities provider’s stock worth $126,000 after buying an additional 1,231 shares in the last quarter. Swiss National Bank increased its stake in Pattern Energy Group by 3.4% during the 1st quarter. Swiss National Bank now owns 115,449 shares of the utilities provider’s stock worth $2,324,000 after buying an additional 3,800 shares in the last quarter. UBS Asset Management Americas Inc. increased its stake in Pattern Energy Group by 139.1% during the 1st quarter. UBS Asset Management Americas Inc. now owns 38,967 shares of the utilities provider’s stock worth $784,000 after buying an additional 22,667 shares in the last quarter. Finally, Parametric Portfolio Associates LLC increased its stake in Pattern Energy Group by 88.3% during the 1st quarter. Parametric Portfolio Associates LLC now owns 106,996 shares of the utilities provider’s stock worth $2,154,000 after buying an additional 50,173 shares in the last quarter. Institutional investors own 95.36% of the company’s stock.

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.

Get a free copy of the Zacks research report on Pattern Energy Group (PEGI)

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Earnings History and Estimates for Pattern Energy Group (NASDAQ:PEGI)

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