Pattern Energy Group (PEGI) Cut to “Sell” at BidaskClub

Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Several other analysts also recently issued reports on PEGI. Zacks Investment Research downgraded Pattern Energy Group from a “hold” rating to a “sell” rating in a report on Wednesday. National Bank Financial boosted their price objective on Pattern Energy Group from $27.00 to $34.50 and gave the stock an “outperform” rating in a report on Saturday, September 23rd. Bank of America cut their price objective on Pattern Energy Group from $21.00 to $19.00 and set an “underperform” rating on the stock in a report on Friday, November 10th. BMO Capital Markets cut their price objective on Pattern Energy Group from $28.50 to $28.00 and set an “outperform” rating on the stock in a report on Friday, November 10th. Finally, Williams Capital assumed coverage on Pattern Energy Group in a report on Monday, October 16th. They set a “buy” rating and a $28.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $25.61.

Shares of Pattern Energy Group (PEGI) opened at $21.50 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.51 and a current ratio of 0.51. The stock has a market capitalization of $2,100.00, a PE ratio of 537.50, a price-to-earnings-growth ratio of 3.87 and a beta of 0.99. Pattern Energy Group has a twelve month low of $19.26 and a twelve month high of $26.56.

In related news, insider Esben W. Pedersen sold 2,400 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $22.53, for a total value of $54,072.00. Following the completion of the sale, the insider now owns 141,011 shares of the company’s stock, valued at approximately $3,176,977.83. The sale was disclosed in a document filed with the SEC, which is available at this link. In the last three months, insiders sold 7,700 shares of company stock valued at $172,657. 1.60% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. grew its stake in shares of Pattern Energy Group by 7.9% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,179 shares of the utilities provider’s stock valued at $147,000 after buying an additional 451 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Pattern Energy Group by 2.4% in the 2nd quarter. Legal & General Group Plc now owns 25,151 shares of the utilities provider’s stock valued at $601,000 after buying an additional 584 shares in the last quarter. Cbre Clarion Securities LLC grew its stake in shares of Pattern Energy Group by 2.3% in the 2nd quarter. Cbre Clarion Securities LLC now owns 31,600 shares of the utilities provider’s stock valued at $753,000 after buying an additional 700 shares in the last quarter. Advisor Group Inc. grew its stake in shares of Pattern Energy Group by 31.0% in the 2nd quarter. Advisor Group Inc. now owns 5,039 shares of the utilities provider’s stock valued at $121,000 after buying an additional 1,193 shares in the last quarter. Finally, K2 Principal Fund L.P. grew its stake in shares of Pattern Energy Group by 9.6% in the 2nd quarter. K2 Principal Fund L.P. now owns 17,554 shares of the utilities provider’s stock valued at $418,000 after buying an additional 1,531 shares in the last quarter. 75.44% of the stock is owned by institutional investors and hedge funds.

TRADEMARK VIOLATION WARNING: “Pattern Energy Group (PEGI) Cut to “Sell” at BidaskClub” was first published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this article on another domain, it was illegally copied and republished in violation of United States & international copyright and trademark legislation. The correct version of this article can be read at https://ledgergazette.com/2018/01/13/pattern-energy-group-pegi-cut-to-sell-at-bidaskclub.html.

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)

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.

Leave a Reply