Pattern Energy Group Inc. (PEGI) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Pattern Energy Group Inc. (NASDAQ:PEGI) (TSE:PEG) have been assigned a consensus recommendation of “Buy” from the thirteen research firms that are covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $26.22.

PEGI has been the subject of a number of recent research reports. Zacks Investment Research raised shares of Pattern Energy Group from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research note on Friday, August 25th. BMO Capital Markets reaffirmed a “buy” rating and set a $28.50 price target on shares of Pattern Energy Group in a research report on Friday, September 8th. Desjardins upped their price target on Pattern Energy Group from $25.50 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, June 20th. J P Morgan Chase & Co reaffirmed a “neutral” rating and set a $24.00 price target (up from $23.00) on shares of Pattern Energy Group in a research report on Tuesday, June 20th. Finally, National Bank Financial upped their price target on Pattern Energy Group from $27.00 to $34.50 and gave the stock an “outperform” rating in a research report on Saturday, September 23rd.

ILLEGAL ACTIVITY NOTICE: “Pattern Energy Group Inc. (PEGI) Receives Consensus Recommendation of “Buy” from Analysts” was originally published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this piece on another publication, it was copied illegally and republished in violation of US and international trademark & copyright legislation. The original version of this piece can be read at https://ledgergazette.com/2017/10/11/pattern-energy-group-inc-pegi-receives-consensus-recommendation-of-buy-from-analysts.html.

In other news, VP Daniel M. Elkort sold 4,100 shares of the business’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $24.08, for a total transaction of $98,728.00. Following the sale, the vice president now directly owns 75,173 shares of the company’s stock, valued at $1,810,165.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Esben W. Pedersen sold 1,200 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $25.18, for a total transaction of $30,216.00. Following the sale, the insider now directly owns 149,411 shares in the company, valued at $3,762,168.98. The disclosure for this sale can be found here. Insiders have sold 10,400 shares of company stock worth $253,840 over the last three months. Corporate insiders own 1.60% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. California Public Employees Retirement System grew its holdings in shares of Pattern Energy Group by 2.3% during the first quarter. California Public Employees Retirement System now owns 153,300 shares of the utilities provider’s stock valued at $3,086,000 after buying an additional 3,500 shares during the last quarter. BSW Wealth Partners purchased a new stake in shares of Pattern Energy Group during the second quarter valued at $207,000. CI Investments Inc. grew its holdings in shares of Pattern Energy Group by 0.3% during the second quarter. CI Investments Inc. now owns 2,866,800 shares of the utilities provider’s stock valued at $68,345,000 after buying an additional 7,700 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Pattern Energy Group by 27.8% during the second quarter. First Trust Advisors LP now owns 134,170 shares of the utilities provider’s stock valued at $3,199,000 after buying an additional 29,154 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Pattern Energy Group during the second quarter valued at $285,000. 95.36% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Pattern Energy Group (PEGI) opened at 24.62 on Wednesday. Pattern Energy Group has a 1-year low of $18.68 and a 1-year high of $26.56. The company has a 50 day moving average price of $25.20 and a 200 day moving average price of $23.53. The stock has a market cap of $2.16 billion, a P/E ratio of 71.78 and a beta of 1.04.

Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last issued its quarterly earnings data 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 company had revenue of $107.76 million during the quarter, compared to the consensus estimate of $124.02 million. Pattern Energy Group had a net margin of 7.77% and a return on equity of 1.05%. Pattern Energy Group’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.04) earnings per share. On average, equities analysts anticipate that Pattern Energy Group will post $0.31 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, September 28th. This i

PEGI has been the subject of a number of recent research reports. Zacks Investment Research raised shares of Pattern Energy Group from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research note on Friday, August 25th. BMO Capital Markets reaffirmed a “buy” rating and set a $28.50 price target on shares of Pattern Energy Group in a research report on Friday, September 8th. Desjardins upped their price target on Pattern Energy Group from $25.50 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, June 20th. J P Morgan Chase & Co reaffirmed a “neutral” rating and set a $24.00 price target (up from $23.00) on shares of Pattern Energy Group in a research report on Tuesday, June 20th. Finally, National Bank Financial upped their price target on Pattern Energy Group from $27.00 to $34.50 and gave the stock an “outperform” rating in a research report on Saturday, September 23rd.

ILLEGAL ACTIVITY NOTICE: “Pattern Energy Group Inc. (PEGI) Receives Consensus Recommendation of “Buy” from Analysts” was originally published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this piece on another publication, it was copied illegally and republished in violation of US and international trademark & copyright legislation. The original version of this piece can be read at https://ledgergazette.com/2017/10/11/pattern-energy-group-inc-pegi-receives-consensus-recommendation-of-buy-from-analysts.html.

In other news, VP Daniel M. Elkort sold 4,100 shares of the business’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $24.08, for a total transaction of $98,728.00. Following the sale, the vice president now directly owns 75,173 shares of the company’s stock, valued at $1,810,165.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Esben W. Pedersen sold 1,200 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $25.18, for a total transaction of $30,216.00. Following the sale, the insider now directly owns 149,411 shares in the company, valued at $3,762,168.98. The disclosure for this sale can be found here. Insiders have sold 10,400 shares of company stock worth $253,840 over the last three months. Corporate insiders own 1.60% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. California Public Employees Retirement System grew its holdings in shares of Pattern Energy Group by 2.3% during the first quarter. California Public Employees Retirement System now owns 153,300 shares of the utilities provider’s stock valued at $3,086,000 after buying an additional 3,500 shares during the last quarter. BSW Wealth Partners purchased a new stake in shares of Pattern Energy Group during the second quarter valued at $207,000. CI Investments Inc. grew its holdings in shares of Pattern Energy Group by 0.3% during the second quarter. CI Investments Inc. now owns 2,866,800 shares of the utilities provider’s stock valued at $68,345,000 after buying an additional 7,700 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Pattern Energy Group by 27.8% during the second quarter. First Trust Advisors LP now owns 134,170 shares of the utilities provider’s stock valued at $3,199,000 after buying an additional 29,154 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Pattern Energy Group during the second quarter valued at $285,000. 95.36% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Pattern Energy Group (PEGI) opened at 24.62 on Wednesday. Pattern Energy Group has a 1-year low of $18.68 and a 1-year high of $26.56. The company has a 50 day moving average price of $25.20 and a 200 day moving average price of $23.53. The stock has a market cap of $2.16 billion, a P/E ratio of 71.78 and a beta of 1.04.

Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last issued its quarterly earnings data 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 company had revenue of $107.76 million during the quarter, compared to the consensus estimate of $124.02 million. Pattern Energy Group had a net margin of 7.77% and a return on equity of 1.05%. Pattern Energy Group’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.04) earnings per share. On average, equities analysts anticipate that Pattern Energy Group will post $0.31 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, September 28th. This is an increase from Pattern Energy Group’s previous quarterly dividend of $0.42. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.82%. Pattern Energy Group’s dividend payout ratio is presently 509.11%.

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.

Analyst Recommendations for Pattern Energy Group (NASDAQ:PEGI)

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