Pattern Energy Group Inc (PEGI) Stake Raised by Advisory Research Inc.

Advisory Research Inc. lifted its stake in shares of Pattern Energy Group Inc (NASDAQ:PEGI) (TSE:PEG) by 1.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 499,063 shares of the utilities provider’s stock after purchasing an additional 6,100 shares during the period. Advisory Research Inc. owned approximately 0.51% of Pattern Energy Group worth $10,725,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Pattern Energy Group by 0.7% during the second quarter. Vanguard Group Inc. now owns 5,870,834 shares of the utilities provider’s stock valued at $139,961,000 after buying an additional 38,599 shares in the last quarter. CI Investments Inc. grew its holdings in shares of Pattern Energy Group by 15.9% during the fourth quarter. CI Investments Inc. now owns 3,320,400 shares of the utilities provider’s stock valued at $71,355,000 after buying an additional 456,300 shares in the last quarter. Brookfield Asset Management Inc. grew its holdings in shares of Pattern Energy Group by 10.0% during the second quarter. Brookfield Asset Management Inc. now owns 2,465,908 shares of the utilities provider’s stock valued at $58,787,000 after buying an additional 224,508 shares in the last quarter. Cohen & Steers Inc. grew its holdings in shares of Pattern Energy Group by 25.5% during the third quarter. Cohen & Steers Inc. now owns 2,415,931 shares of the utilities provider’s stock valued at $58,224,000 after buying an additional 490,987 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Pattern Energy Group by 6.5% during the third quarter. Dimensional Fund Advisors LP now owns 1,768,431 shares of the utilities provider’s stock valued at $42,621,000 after buying an additional 108,341 shares in the last quarter. 76.86% of the stock is currently owned by institutional investors.

A number of brokerages have recently weighed in on PEGI. BidaskClub downgraded Pattern Energy Group from a “sell” rating to a “strong sell” rating in a report on Friday, February 9th. ValuEngine downgraded Pattern Energy Group from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. National Bank Financial lowered their price target on Pattern Energy Group from $26.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday. Goldman Sachs Group upgraded Pattern Energy Group from a “neutral” rating to a “buy” rating and set a $21.00 target price on the stock in a research note on Tuesday, December 5th. Finally, BMO Capital Markets restated a “buy” rating and issued a $26.00 target price on shares of Pattern Energy Group in a research note on Tuesday, February 6th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $24.79.

In other news, insider Esben W. Pedersen sold 2,400 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $21.59, for a total transaction of $51,816.00. Following the completion of the sale, the insider now owns 134,528 shares in the company, valued at approximately $2,904,459.52. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders have sold 7,200 shares of company stock valued at $155,112. 1.60% of the stock is currently owned by corporate insiders.

Pattern Energy Group Inc (NASDAQ:PEGI) opened at $19.11 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.51 and a quick ratio of 0.51. Pattern Energy Group Inc has a 52 week low of $18.15 and a 52 week high of $26.56. The company has a market capitalization of $1,818.11, a PE ratio of 477.87, a price-to-earnings-growth ratio of 3.17 and a beta of 0.88.

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Pattern Energy Group 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.

Institutional Ownership by Quarter for Pattern Energy Group (NASDAQ:PEGI)

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