Pattern Energy Group Inc (NASDAQ:PEGI) (TSE:PEG) insider Esben W. Pedersen sold 2,400 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $20.51, for a total transaction of $49,224.00. Following the completion of the transaction, the insider now owns 132,128 shares in the company, valued at approximately $2,709,945.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Pattern Energy Group Inc (NASDAQ:PEGI) traded up $0.33 during mid-day trading on Monday, reaching $18.74. 1,025,200 shares of the company’s stock were exchanged, compared to its average volume of 820,622. Pattern Energy Group Inc has a twelve month low of $18.20 and a twelve month high of $26.56. The company has a market cap of $1,850.00, a P/E ratio of 472.50, a price-to-earnings-growth ratio of 3.26 and a beta of 0.88. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.87.
Pattern Energy Group (NASDAQ:PEGI) (TSE:PEG) last released its earnings results on Thursday, November 9th. The utilities provider reported ($0.26) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.12) by ($0.14). Pattern Energy Group had a net margin of 1.01% and a return on equity of 0.06%. The company had revenue of $92.03 million for the quarter, compared to the consensus estimate of $112.38 million. research analysts predict that Pattern Energy Group Inc will post 0.11 earnings per share for the current fiscal year.
Several brokerages have recently weighed in on PEGI. BidaskClub lowered shares of Pattern Energy Group from a “sell” rating to a “strong sell” rating in a report on Friday. BMO Capital Markets reissued a “buy” rating and set a $26.00 target price on shares of Pattern Energy Group in a research report on Tuesday, February 6th. Zacks Investment Research downgraded shares of Pattern Energy Group from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. National Bank Financial decreased their target price on shares of Pattern Energy Group from $28.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. Finally, ValuEngine downgraded shares of Pattern Energy Group from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Four analysts have rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $24.86.
Hedge funds have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC purchased a new stake in shares of Pattern Energy Group during the 3rd quarter valued at approximately $107,000. Advisor Group Inc. increased its holdings 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 worth $121,000 after buying an additional 1,193 shares during the last quarter. IFP Advisors Inc increased its holdings in shares of Pattern Energy Group by 139.6% in the 4th quarter. IFP Advisors Inc now owns 5,337 shares of the utilities provider’s stock worth $115,000 after buying an additional 3,110 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Pattern Energy Group in the 3rd quarter worth $135,000. Finally, Ameritas Investment Partners Inc. increased its holdings 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 worth $147,000 after buying an additional 451 shares during the last quarter. Institutional investors own 76.86% of the company’s stock.
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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.
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